In the autumn budget 2018, the Chancellor announced a new retail discount to reduce business rate bills by one third in the financial years 2019/20 and 2020/21. This action is being taken to help the high street evolve due to changing consumer behaviour as it is recognised that there are significant challenges being faced by retailers in town centres.
This discount will be applied to your bill (on or after 1 April 2019) after any mandatory and/or discretionary reliefs have been processed if you meet the following criteria:
- Applicable to occupied retail properties
- Retail properties are those that are reasonably accessible to visiting members of the public
- The property must have a rateable value of less than £51,000
- Subject to the usual state aid restrictions
Where a local relief has been processed, this will now be applied after the retail discount has been awarded.
If the discount has not been awarded and you believe you should be eligible, please contact us at email@example.com