Business Rates
Market - March 21st 2019
The 2019/2020 business rates bills have been sent out by councils across the region in recent weeks advising ratepayers of their liability over the next rates year. The multiplier has increased from 0.493 in the preceding year to 0.504 (0.480 up to 0.491 for small businesses) and this, combined with transitional relief reducing each year means ratepayers facing higher bills.
If you are a retail occupier (and this includes restaurants, pubs and takeaways) with a Rateable Value of less than £51,000 you may qualify for the Retail Discount Scheme announced by the Government in the October 2018 Budget. This relief amounts to one third of the bill, after other reliefs have been applied. Further guidance is available on the gov.uk website by clicking here
Councils have been sending forms to those they believe qualify or applying the relief automatically, if you think you may qualify check your bill. If there is no discount and you have a retail premises with a Rateable Value under £51,000 contact your council for advice on whether you qualify.