2017 Spring Budget Business Rates Discretionary Scheme

 

In the 2017 Spring Budget the Chancellor announced that the government would make available a discretionary fund of £300 million over a 4 year period to local authorities in England to design and implement a discretionary scheme to support those businesses most affected by the recent revaluation
A breakdown of the £300 million funding and Wychavon District Council’s share is as follows:

 

 

Year

 

Total Pot

 

Wychavon District Council’s Allocation

 

2017/18

 

£175 Million

 

£295,000

 

2018/19

 

£85 Million

 

£143,000

 

2019/20

 

£35 Million

 

£59,000

 

2020/21

 

£5 Million

 

£8,000

 

Scheme

Wychavon’s scheme takes into consideration and builds on the government’s guidelines whilst also mirroring the Council’s aspirations to ensure economic growth is supported. This scheme has been automatically applied to eligible accounts therefore businesses do not need to apply.

Qualifying Criteria

To maximise the funding available the following criteria has been used:

  • The business has had an increase in Rateable Value as a result of the recent revaluation 2017/18
  • The relief in 2017/18 will be fixed at 75% of business rates growth between 2016/17 and 2017/18
  • The business has a Rateable Value under £200,000
  • The business is not part of a national chain
  • The business is not a public sector organisation or a housing association
  • The hereditaments must be occupied
  • The minimum relief awarded will be £100.00

The award must also comply with State Aid Law which states that an organisation cannot receive more than €200,000 of government funding over a 3 year period, as set out under the De Minimis Regulations EC 1407/2013.

If you believe you meet the qualification criteria and have not been included in this scheme please contact us at businessrates@southworcestershirerevenues.gov.uk