New business rates discount scheme in the pipeline
Release date: 7 February 2019
UPDATE 26 FEBRUARY - DECISION NOW ENDORSED
Hundreds of retailers in the Cotswold District may be set to benefit from a new business rates discount.
When they meet on 26 February, Members of Cotswold District Council will consider whether to support a Government scheme which will cut retailers’ rates by a third provided they have a rateable value of £51,000 or less. Those already receiving 100% relief through other schemes will continue to do so.
It is estimated that about 400 businesses in the District would benefit from this discount, which was announced in the Chancellor’s 2018 Autumn Statement.
CDC Leader and Cabinet Member for Resources Cllr Tony Berry says,
“We have already given this government scheme our full support at Cabinet level and it will now be considered by the full Council on 26th. If approved, I am sure that this relief will be welcomed by many retailers in the Cotswolds, because it is of direct benefit to the local economy and should help our high streets cope with the challenge of changing shopping trends.”
Provided the scheme gets full Council support on 26 February, Cotswold District Council will be sending confirmation about the discount to everyone who qualifies based on our current business rates records.
Further details will be published on the Council’s website after 26 February.