Updated Relief Scheme March Budget 2020
The chancellor has announced updated information for certain existing relief schemes and an additional measure to assist public houses.
Support for small businesses (SSB)
This is a support for business who are losing small businesses rate relief or rural rate relief due to an increase in their rateable value following the 2017 revaluation. This may cap the level of increase in your bill.
Local discretionary discount scheme
Stroud District Council has been allocated funding of £432,000 (to be spread over 4 years) to create a discretionary relief scheme to help business following the 2017 revaluation. For the financial 20/21 Stroud District Council has been allocate £7000.00
Pub Relief (commencing 1st April 2020)
A discount scheme targeted at occupied pubs that have an RV of under 100,000 which entitles them to a £1,000 reduction in charge, (subject to state aid rules). This is in addition to retail discount and will be applied after the retail discount
There was an announcement in the budget of the 11th March 2020 that the Pub Relief scheme has been extended from £1000 relief to £5000 relief from the 1st of April 2020.
For more information please click on link below to the official business rates information letter.
The Government introduced a £1,500 discount for office space occupied by local newspapers, up to a maximum of one discount per local newspaper title and per hereditament, and up to state aid limits, for 2 years from 1 April 2017. The discount of the £1,500 business rates discount for office space occupied by local newspapers has now been extended and will apply for an additional 5 years until 31 March 2025.