Business Rates

Business Rates

Section on Business Rates Information

More information

In the Chancellor’s Budget statement on 8 March 2017, announcements were made about new business rates reliefs that will be applicable during the coming year, 2017-18.

These reliefs can be summarised as:

• A limit on the increased rates payable by businesses coming out of the Small Business Rate Relief and Rural Rate Relief schemes;

• A £1,000 discount for pubs with a rateable value of less than £100,000;

• A national discretionary relief fund of £300M to be administered by local authorities.

Test Valley Borough Council produced their business rates bills before the budget announcement, so they do not include any allowance for reliefs to which local businesses may be entitled.

The government has started consultation on the implementation of the discretionary relief fund and expects to consult on the pub support scheme soon. The government is also expected to issue detailed guidance for the implementation of the small business support scheme in the coming weeks.

Once these national consultations have closed, and the results have been published, Test Valley Borough Council will write to businesses that are eligible for relief, and include details of how to apply. This is not expected to be before the end of June 2017.

In the meantime, businesses should pay the instalments for the year as shown on their bill.

Non-Domestic Rates, or Business Rates are the way that those occupying non-domestic property contribute towards the cost of local services. Under the Business Rates retention arrangements introduced from 1 April 2013, the Council keeps a proportion of the Business Rates paid locally. The money, together with revenue from Council Tax payers, Revenue Support Grant provided by the Government and certain other sums, is used to pay for the services provided by Test Valley Borough Council and other local authorities in your area.

Test Valley Borough Council is responsible for the billing and collection of Business Rates in respect 4,265 properties, totalling just under £50m.

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