Businesses benefit from new round of rate relief
Release date: 26 July 2018
Cotswold District Council is awarding business rates relief to almost 250 businesses that have a rateable value of less than £200,000.
Where applicable, we are issuing business rate bills for 2018/19 with the relief already accounted for in the total rather than requiring individual firms to apply for this separately.
So far we have allocated a total of £142,000 for this purpose, with individual businesses receiving up to £8,400 in relief. However, anyone in receipt of this relief who feels they are not eligible should advise the Council within 28 days of receiving their revised bill.
Commenting on this news, CDC Leader Cllr Mark Annett said:
“This is great news for many small businesses in the Cotswolds. It’s the second year of relief following the national revaluation of business rates conducted by the Valuation Office Agency which resulted in many firms receiving an increase in their bills last year.
“I must add that, in addition to this scheme, we are also continuing the Council’s Small Business Rate relief scheme which applies to eligible businesses occupying premises with a rateable value of less than £15,000.”
For further details please go to www.cotswold.gov.uk/business/business-rates/
Local Discretionary Relief Schemes
Central government has allocated £300m for local authorities to create local discretionary relief schemes to help those affected by the rates rise.
Government funding is expected to be set aside for local authorities over a four year period, but the amount of funding provided for business support will reduce each year.