The Chancellor, in the Budget Statement on 8 March 2017, announced several measures designed to help businesses with the potential impact of the 2017 revaluation.
The details have now been released. The changes include:
- a reduction of up to £1000 for public houses (subject to state aid limits)
- a limit on any increase of business rates where a rate payer is no longer entitled to small business rate relief due to the rateable value increasing in 2017
The reductions for public houses and those where the rates will be capped will be automatically awarded and notifications issued. If you believe that you may be entitled but have not been advised of any award by 1 August 2017 contact the business rates section.
A discretionary reduction scheme is being set up for exceptional cases where the rate payer has had a significant increase in the rates payable between the 2010 and 2017 valuation lists. We will contact all businesses that may be entitled to a reduction.