Central Bedfordshire Council is consulting on a new scheme which could see many small businesses get money back/discount on their business rates.
In April this year, many businesses saw their business rate bills increase after a revaluation of property value by the Government. The Government is now making a £300m relief fund available to help small businesses worst hit by the revaluation.
Local councils are expected to decide on the criteria for how businesses access this funding. Central Bedfordshire Council has been awarded a £628,000 fund over four years and is consulting on the criteria for distributing the financial support to businesses.
We are proposing that to qualify, business owners should be occupying their property and it should have a rateable value of £200,000 or less, they should have also received a 12.5% increase (or higher) on their 2016/17 bills, after other reductions.
The consultation runs to 25 September 2017. Have your say on the council website.
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