Over 100 firms benefit from first round of business rates relief decisions
Release date: 25 September 2017
The Leader of Cotswold District Council has today approved almost £127,000 worth of discretionary business rates relief for 111 small companies. They are benefiting from a government relief scheme that provides support to small businesses facing large increases of over £600 a year.
Additionally, almost £35,000 has been awarded to 35 public house accounts under a Public House Relief scheme, and over £18,000 worth of Small Business Rate Relief has been awarded to support 20 businesses facing high increases.
In July, the Council identified businesses which were likely to meet the scheme’s criteria, and we wrote to them, encouraging them to apply for relief.
The full details of the government scheme were finalised recently, and the Council has now started to consider applications and award relief when appropriate.
There are three sources of financial relief available:
- £1,000 discount for qualifying public houses with rateable values of under £100,000
- Scheme to cap increases for small businesses which will lose some or all of their Small Business Rate Relief or Rural Rate Relief
- A discretionary fund in a sum of £300m, to be established nationally and payable over four years, to enable billing authorities to support those facing the steepest increases in their Business Rates.
Commenting on his decisions today in regard to discretionary rates relief , the Leader of CDC, Cllr Mark Annett, said:
“I am very pleased to have been able to award discretionary relief to so many businesses at the outset, and I can assure the beneficiaries that revised rates bills will be mailed out to them very soon. I am also delighted to see that local businesses are beginning to receive relief under the public house and Small Businesses Rate Relief scheme.
“There are more applications in the pipeline awaiting consideration. However, I am aware that there are still many more firms that have not yet applied for relief even though they would probably benefit from one or even more of the schemes that are available. I would urge all of those businesses to enquire about their eligibility for rates relief. Please contact the Council on 01285 623000 if you want to find out whether you qualify – the amount of relief we have awarded today shows that this could be a very profitable enquiry.”