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 2018/19 is £230,000.
This has been used to further support those businesses that faced a the steepest increases in their business rates bills as a result of the 2017 revaluation.
Details of our 2018/19 scheme can be found here.
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 2018/19.
Other support available
Business rates discounts and relief