Business Rate Retail Discount

By February 28, 2019City News

As some of you may be aware, in the Autumn Budget 2018, the Chancellor announced that eligible retailers will receive a one third discount on their business rate bills for two years from April 2019. Relief will be provided to eligible occupied retail properties with a rateable value of less than £51,000 in 2019/20 and 2020/21.

Your forthcoming rates bill should include the Retail discount, however the Chichester BID team has recently discovered that Chichester District Council will be sending out un-amended bills in March 2019 (i.e. without reflecting the discount), and that they will then send you a revised bill that should show the discount in April.

If you do not receive a revised bill in April, you can apply for the discount by visiting the Chichester District Council website, where you will find an online application form and the guidance notes from the Ministry of Housing, Communities and Local Government for all supporting information.

WHAT TO DO NEXT

  • Check your rateable value is £51,000 or below to ensure you can apply. (Your Rateable Value can be found on your last Business Rates bill or by visiting the Valuation office website: www.gov.uk/correct-your-business-rates)
  • Wait for your amended bill, if you do not receive the discount you may need to complete an online form. CLICK HERE FOR ONLINE FORM.

CHECKING YOUR RATEABLE VALUE

New Rating Lists were published in 2010 & 2017, the next change is set for 2021. If you want to check your rateable value there are a few things you can do. We strongly advise that if you are in doubt about the validity of your rates, to check first before applying for any recalculation. CLICK HERE TO FIND OUT MORE ABOUT RATEABLE VALUES.

FAQS

Want to understand more about who is entitled to this Business Rate Retail Discount? CLICK HERE TO DOWNLOAD OUR BUSINESS RATE RETAIL DISCOUNT FAQS.

CALCULATION EXAMPLES

The retail discount (one third) is always calculated after mandatory relief and other discretionary reliefs funded by section 31 grant. We have put together a series of examples to demonstrate how the relief will be applied to different types of eligible businesses. CLICK HERE TO DOWNLOAD CALCULATION EXAMPLES.


Should you have any concerns or queries on any of above, please contact the BID team in the first instance on 01243 773263. 

 

The BID team have used several documents to compile this information if you would like to look into these source documents, which we would encourage you to do, we’ve listed them below for your reference: