Spring Budget 2017 changes to business rates
Expanded Retail Discount update
Following the government's announcement in the Spring Budget on 3 March 2021&, the level of Expanded Retail discount will change on 1 July 2021 from 100% to 66%.
All customers currently receiving Expanded Retail Discount will receive a new business rate bill showing the charge due for the remainder of the 2021/22 financial year. Instalments will be due on or after 01 July 2021, and will be detailed on your bill.
Customers previously paying business rates by direct debit may need to complete a new instruction; you can do this via a direct debit mandate.
The instalments on the new bill will state Direct Debit as the method of payment if an instruction is already in place.
The total level of relief available to a business is £2 million across all business sites. If your business will breach this cap you should send an e-mail to firstname.lastname@example.org and state the following:
- Business name
- Address of property
- Business rates account reference
- Date at which the expanded retail discount should end
If you have any query regarding the relief please send an e-mail to email@example.com.
Spring Budget 2017 - Changes to Business Rates
In the Spring budget 2017 the Government has announced the following changes to business rates:
- Any business losing small business rate relief as a result of the revaluation will not see their bill increase next year by more than £50 a month.
- Pubs with a Rateable Value of less than £100,000 will receive a £1,000 discount on their business rates bill.
- Local Councils will be given extra grant to offer discretionary relief for business in hardship cases.