Revaluation Discretionary Relief
A discretionary funding pot of £300 million has been made available nationally. It is payable over 4 years to enable billing authorities to support those facing the steepest increases in their Business Rates. The scheme will help businesses with a rateable value of less than £200,000 and facing an increase in Business Rates of over 12.5% this financial year. The ratepayer must have been in occupation on 31 March 2017.
Revaluation discretionary relief for 2020
This is the fourth year of the four year scheme. The total funds that we have been granted to allocate for this forth year £13,735. We will shortly apply a 0.5% relief for the 2020/21 financial year to all businesses that qualify.
Revaluation discretionary relief for 2019
During the third year of the scheme funds of £96,000 are available to allocate to qualifying businesses. There is currently £22,450 unspent from these funds so an additional top-up grant will be automatically applied to the remaining qualifying businesses shortly.
State aid limits
This relief is subject to the European Union restrictions on state aid and therefore your business must comply with the EU regulations on state aid. Any state aid that you receive must be “de minimis” I.E. not exceed €200,000 in total for the current and the 2 previous financial years.
If you have any queries regarding this Business Rates relief please contact us using the details below. Please add your Business Rates account number and Revaluation Relief to the subject line of your email.