The Chancellor’s Budget and Business rate demands

Published Thursday, 9th March 2017

calculator and till roll

In the March 2017 Budget announced yesterday (Wednesday 8th March 2017), the Chancellor stated that:

“The business rates revaluation takes effect in England from April 2017. In addition to the £3.6 billion transitional relief already announced in November 2016, the government will provide £435 million of further support for businesses facing significant increases in bills from the English business rates system. This includes:

  1. Support for small businesses losing Small Business Rate Relief to limit increases in their bills to the greater of £600 each year
  2. Support providing English local authorities with funding to support £300 million of discretionary relief, to allow them to provide support to individual hardship cases in their local area.
  3. The government will also introduce a £1,000 business rate discount for public houses with a rateable value of up to £100,000, subject to state aid limits for businesses with multiple properties, for one year from 1 April 2017.”

Businesses should be aware that we are still awaiting further details/instructions from Central Government on the administration of these schemes, and therefore any changes are not yet reflected in the business rate demands for 2017/2018, dated 10th March 2017.

Please therefore make payments in accordance with the 2017/2018 demand. Anyone affected by the changes will be contacted and issued with adjusted demands as appropriate.