Business Rates Local Discount Relief
In the Spring Budget the government announced Business Rate relief schemes to help businesses facing increases in their rate bills as a result of the revaluation that took effect from 1 April 2017. One of these schemes enables councils to design their own scheme whereby they can consider awarding a discount to businesses facing increases in their bills in 2017/18 when compared to 2016/17 and the increase is due to the 2017 revaluation.
The council has now agreed its scheme, the details of which can be found below along with the criteria.
The award of the local discount is classed as State Aid and the Local Authority must therefore comply with European Commission State Aid legislation. The application form requires your organisation’s confirmation that the granting of local discount will not result in your organisation exceeding the State Aid threshold of €200,000 over the last 3 years (De Minimus Regulations EC 14/07/2013).
Further information on State Aid law can be found at www.gov.uk/state-aid.