A new relief will be available to those ratepayers facing large increases in their rates as a result of the increase in their rateable values at the revaluation and are losing some or all of their small business rate relief. To support these ratepayers the “Supporting Small Business Relief” will ensure that the increase per year in the bills is limited to the greater of:

  • Monetary value of £600 per year (£50 per month) or
  • In line with the maximum increase for small properties in the transitional relief scheme.

Discretionary Relief Scheme

The government announced a £300 million discretionary fund over four years to support those businesses that face the steepest increases in their business rates bills as a result of the revaluation. In Merton our share for 2017/18 is £459,000.

The government further assumes that, by and large, more support will be provided to:

  • Ratepayers or locations that face the most significant increases in bills; and

We have devised our own scheme that has now been approved by cabinet on 3 July 2017. Our scheme is based on the government’s condition that support will only be provided to ratepayers who are facing an increase in their bills following the revaluation and we hope to award the reliefs during July and August 2017.

Support for pubs

The government also announced a new relief scheme for pubs that have a rateable value of below £100,000 after the revaluation. Eligible pubs will receive a £1000 discount on their bills. This relief will have effect for 2017/18.

 

Revised bills

Unfortunately we are still not in a position to implement any of the reliefs or support immediately and have issued all 2017/18 business rates bills without any of the relief or support. We are in discussions with our software supplier to enable us to re-issue bills to businesses that are affected by these changes and expect to be in a position to do so in the near future . If you qualify for any of the relief or support mentioned above you will receive a revised bill, until then you are required to pay your current business rates

The discretionary rate relief policy can be found here

Other support available

Business rates discounts and relief