Extra help with business rates

News
News

Extra help is to be made available to businesses following the recent national rates revaluation.

The revaluation, which came into place on April 1, sees some businesses facing large increases in their rates.

The Government has made £300 million available nationally over four years from 2017/18 on a reducing basis to enable local authorities to support businesses facing large increases.

Boston Borough Council’s share will be £133,190 in 2017/18, £64,692 in 2018/19, £26,638 in 2019/20 and £3,805 in 2020/21.

It is proposed the Boston borough scheme support those businesses with a rateable value of £100,000 or less.

The maximum available to individual qualifying businesses in 2017/18 will be approximately £1,500, reducing to £735, £301 and £42 in following years, after all other reliefs and exemptions have been applied,

In addition, local schemes will support small businesses which have lost some, or all, of their small businesses or rural rate relief and qualifying pubs where £1,000 discount will be applied.

The schemes will go before the council’s Cabinet for approval on September 6.

The council’s business rates section will contact qualifying businesses, but enquiries can be made by emailing businessrates@boston.gov.uk