Business rates discretionary rate relief
Cabinet is to discuss changes to the business rates relief scheme, following
the increased support announced in the Chancellor’s Spring Budget in March.
The report notes that the following changes will be introduced if they are fully funded by the Government:
- Limiting increases in bills for small businesses losing Small Business or Rural Rate relief
- Offering pubs with a rateable value up to £100,000 the option to claim a £1,000 business rates discount for one year
- Making use of grant funding from central Government to offer discretionary rate relief to individual hardship cases, targeting those most in need.
Cllr David Dagger, Wakefield Council's Cabinet Member for Corporate Services, said: "Our business rate relief scheme offers a lifeline to many businesses in the district. By introducing these additional support measures to our existing scheme, we can offer financial assistance to even more local businesses through no additional cost to the Council."
If Cabinet approve the report, the changes will be implemented and back dated to 1 April.
Senior councillors will be discussing the proposals at the next Cabinet on Tour meeting on 9 May.
Members of the public are invited to attend the meeting, with the opportunity to ask questions to Cabinet members, at Castleford Civic Centre from 10.30am to 12 noon. Alternatively the meeting can be watched live, or later, at www.wakefield.gov.uk/livestream