During the Spring Budget last year, the Government announced that it would provide additional help for those affected by the 2017 Revaluation of Non-Domestic Rates.
The Government provided the funding for this for four years from 1 April 2017 and allowed Local Authorities to develop their own schemes under Section 47 of the Local Government Finance Act 1988.
Relief for 2017/18 has been given to all businesses that have faced an increase in their rates payable between 31 March 2017 and 1 April 2017. Initially, a maximum of 40% of the increase in rates payable was awarded as relief in year one. It has now been possible to increase this to 60% for 2017/18. The amount of relief awarded will be recalculated with any change of circumstances.
For 2018/19, 30% of the increase in rates payable will be awarded (i.e. half of the amount of relief awarded in 2017/18).
In order to be eligible for this relief, the following criteria apply:
Relief will be awarded automatically to qualifying properties. A State Aid declaration will be sent out and will need to be completed and returned to the council for the relief to continue.
For further information, please contact Revenues: