Discretionary Local Business Rates Relief (Revaluation Relief)
How do you qualify?
In 2017 the Government announced that £300m in funding over the period 2017/18 to 2020/21 would be provided to support those businesses most affected by the revaluation of business rates from 1 April 2017.
Relief is available for ratepayers in occupation of a property as at 31 March 2017 with ongoing liability for 2017/18, where their rateable value is less than or equal to £275,000 and their net rates for 2017/18 have risen by 10% or more.
What do you get?
For 2017/18 the maximum award was 92% of the increase in the rates payable for 2017/18 after all other reliefs as compared with the rates payable for 2016/17. Relief reduces to 53% for 2018/19, 18% for 2019/20 and 2.8% in 2020/21.
Awards are subject to State Aid De Minimis limits. For information about State Aid please go to www.gov.uk/state-aid.
How do you apply?
We will identify those who appear to qualify and award the relief automatically. We will then write to you confirming the award and asking you to make a State Aid declaration if appropriate.