Wakefield Council to discuss discretionary relief for business rates
Ref: PR 4617
Wakefield Council's key decision makers are to discuss giving the green light to two relief schemes that will hand businesses across the district a business-rate cut.
The report proposes that the schemes – Retail Relief and Temporary Reoccupation Relief – would operate over the next two years and could provide total support of about £1m to around 1,500 businesses in the district.
Retail Relief provides a £1,000 retail relief to shops, restaurants, cafes and bars occupying premises with a rateable value of £50,000 or less.
Temporary Reoccupation Relief provides a 50 per cent business rate discount over 18 months for new occupants of former shop premises that have been empty for 12 months or more.
Cllr Graham Stokes, Cabinet Member for Corporate Performance, said: "The last few years have been difficult for many businesses and measures that help them cut their costs are to be welcomed.
"We hope that these schemes will offer much needed support in a difficult financial climate, boosting our local economy."
The report is being discussed by the Council's Cabinet on July 8 and recommends that both schemes, which are funded by the Government, be introduced. If approved, discounts will be backdated to April 1, 2014.