Businesses to benefit from new Retail Business Rate Reduction scheme
Northampton Borough Council is implementing a new Government Business Rate Relief scheme that will benefit retail businesses in the town.
Businesses with a rateable value of less than £51,000 in 2019/20 and 2020/21 will be eligible for a discount of one third of the business rates due, after all other discounts are applied.
This is a potential additional £3.4million rate relief for retail businesses such as shops, restaurants, cafes, drinking establishments, post offices and charity shops. And is being delivered in addition to the scheme which helps businesses with a rateable value of less than £200,000.
Councillor Brandon Eldred, Cabinet member for finance, said: “This new scheme is great news for small businesses in our area, with the discount saving them up to £3.4million during 2019 and through to 2021.
“Our Revenues and Benefits team are already applying the discount to approximately 1900 businesses that they are certain qualify. We will also be contacting a further 1200 businesses to see if they are also eligible for the discount and welcome enquiries to ensure we help as many businesses reduce their costs as possible.”
Full details of the rate relief scheme and how to apply can be accessed at:
Email: businessrates@northampton.gov.uk
Tel: 0300 330 7000
Website: www.northampton.gov.uk/businessrates