2017 Budget Announcements
The Government announced some changes to Business Rates which will be effective from 1 April 2017 in the latest budget on 8 March 2017. These were as follows:
- Any business coming out of small business rate relief will benefit from an extra cap – meaning their rates will not increase by more than £50 a month. We have now re-billed all qualifying businesses. If you qualify for this relief, you should have received an amended bill showing a relief award called Supporting Small Business Scheme.
- A £300M fund will be made available to Councils to allow discretionary relief for those businesses facing a large increase as a result of the 2017 revaluation. Hyndburn’s scheme was approved on 21 September 2017 and is available to view here. If your business qualifies for the 2017 Discretionary Rate Relief Scheme, we will contact you directly.