Rate relief scheme to continue support to local businesses
Local businesses could see their rates reduced for a second year running following the recent review of a relief scheme launched in April 2017.
Northampton Borough Council intends to continue financial assistance to individual businesses who have seen their business rates rise significantly due to the 2017 revaluation, through the local discretionary rate relief scheme.
The scheme was initially only available for one year, however the Borough Council has confirmed that the same level of support will be available from April 2019. Of the businesses that qualified last year, 72 are still eligible.
Businesses that received the rate relief in 2018 will automatically be granted the funding next year. However, other business owners, whose property’s rateable value is less than £200,000, has occupied since April 2017 and are not used as betting shops, adult entertainment stores or pawnbrokers, may also be eligible.
Councillor Brandon Eldred, Cabinet member for finance, said: “Following the recent review of the local discretionary rate relief scheme, which we introduced in 2017, we are pleased to be in a position to continue this vital support to businesses next year.
“We hope that this scheme continues to help smaller, independent businesses in the town thrive and we encourage anyone who thinks they might be eligible for the rate relief to get in touch.”
To find out more about business rates and the guidelines for relief visit northampton.gov.uk/businessrates or email [email protected]