Reductions and reliefs

Spring Budget 2017 – new business rates reliefs

Discretionary relief following revaluation

In the Spring Budget 2017 announcement, the government made a £300 million relief fund available to help small businesses worst hit by the revaluation for 2017. We have been awarded £628,000 from this fund, to be allocated over four years. Following a consultation which closed on 25 September 2017, we have agreed the criteria for distributing financial support to businesses. To qualify for the relief, your business must:

  • have occupied the property on 1 April 2017
  • have a rateable value of less than £200,000
  • have had an increase in net charge which equates to 12.5% or more than the 2016/17 bill

Relief will be awarded for one financial year at a time. If relief is awarded in subsequent years the amount of relief will reduce in proportion to the reduction in government funding for this scheme.

How much will be awarded?

The amount to be granted will be decided once all qualifying applications have been approved. The amount awarded to each successful applicant will be based on the total amount available, in proportion to the total increase in rateable value of all the qualifying applicants.

The total assistance will be limited to the amount of funding allocated, as set out in the table below.

The revaluation support scheme is scheduled to run for 4 years only and the amount of funding we have been allocated is set out in the table below:

Funding we've been allocated under the revaluation support scheme
Year
Amount
2017/18
£366,000
2018/19
£178,000
2019/20
£73,000
2020/21
£10,000

Pub relief

This relief ended on 31 March 2019.

Supporting small business relief

Businesses coming out of certain reliefs due to the 2017 revaluation can benefit from a cap which prevents the rate that they pay from going up by more than £50 per month. To qualify for the cap your business must:

You do not need to apply for this relief. We have identified the relevant businesses and will award the relief automatically if you qualify.

Contact us

If you have any questions about your business rates or reliefs, please contact us.

Email: businessrates@centralbedfordshire.gov.uk

Telephone: 0300 300 8011

Please quote your business rates account reference in all correspondence – your account reference is 7 or 8 digits long and starts with a 3, and you can find it on your business rates bill or any letter we’ve sent about your business rates.