Government Confirms Details of Rate Relief Announced in 2018 Budget

ACS has welcomed the publication of new guidance from the Ministry of Housing, Communities and Local Government on the details of how business rates discounts first announced in this year’s Budget will be allocated.

During the Budget on October 29th, Chancellor Philip Hammond announced that businesses with a rateable value of under £51,000 would receive a 1/3 discount on their rates bills.

The guidance published by MHCLG confirms that the 1/3 discount will be available to eligible businesses for the years 2019/20 and 2020/21. While the exact eligibility criteria is to be determined by local authorities, the guidance recognises the inclusion of petrol forecourts and post offices within the definition of businesses that are ‘wholly or mainly being used as shops, restaurants, cafes and drinking establishments’. However, ATMs are not included within the definitions and are subsequently not eligible for the discount.

ACS chief executive James Lowman said: “We welcome clarification from the government on the details of this new business rates relief, which could save the convenience sector tens of millions over the next two years and help thousands of retailers trading on high streets, towns and villages across England. Business rates remain one of the biggest fixed costs for many retailers, so this discount will provide much needed extra cash to help stores invest.”

The business rate relief will be automatically allocated by Local Authorities (after any existing mandatory and discretionary reliefs) and included in your rates bill issued early in 2019. If you believe you are eligible for relief but have not received the discount please contact ACS for a template letter to send your local authority via email at [email protected]

The full business rates relief guidance document is available here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/760973/Retail_Discount_Guidance.pdf

This entry was posted by Chris on Mon, 03/12/2018 - 13:12
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