Friday, 1 July 2011

No free lunch for some local businesses on rates, says Council

Lancaster City Council is reminding local businesses that new rules to reduce business rates only apply to those with a rateable value below £12,000.

In March, the Government announced that it was extending a temporary increase in Small Business Rate Relief for a further year for the period 1st October 2011 to 30th September 2012.

The measure doubles the usual rate of relief so that businesses with rateable values below £6,000 pay no rates at all for the period, while those with rateable values between £6,000 and £12,000 receive tapered relief from 100% – 0%.

However, the amended legislation is not yet in place so businesses must continue to pay their current instalments, if they have any. Current collection and enforcement procedures will continue to apply to ratepayers who miss scheduled instalments.

Anyone currently entitled to Small Business Rate Relief and affected by the changes will be issued with an amended bill automatically once the new legislation has been passed.

It is also essential that Lancaster City Council is informed of all changes regarding vacations and occupations of property to ensure ratepayers that are potentially entitled to relief continue to receive the necessary application forms.

• Any businesses that have not applied for Small Business Rate relief but believe they may be eligible can contact 01524 582920 or visit  www.lancaster.gov.uk/business-rates for more information.

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