The following changes were announced in the Spring Budget on Wednesday 8th March 2017.
Supporting Small Businesses Relief
The Chancellor announced that a scheme of relief would be made available to those ratepayers facing large increases as a result of the loss of Small Business or Rural Rate Relief.
The Supporting Small Businesses Relief will help those ratepayers who, as a result of the change in their rateable value at the revaluation, are losing some or all of their Small Business or Rural Rate Relief and, as a result, are facing large increases in their bills. To support these ratepayers, the Supporting Small Businesses Relief will ensure that the increase per year in the bills of these ratepayers is limited to the greater of:
- a cash value of £600 per year (£50 per month). This cash minimum increase ensures that those ratepayers currently paying nothing or very small amounts are brought into paying something, or
- the matching cap on increases for small properties in the transitional relief scheme.
This new relief was announced too late to be reflected in our bills for 2017 - 2018. We have contacted those known to be affected by this change, but are awaiting further Government guidance before being able to implement this relief.
Support for Pubs
The Government has also announced a new relief scheme for pubs that have a rateable value of below £100,000.00 Under the scheme, eligible pubs will receive a £1,000.00 discount on their bill.