Changes to Business Rates in Southport

Changes to Business Rates in Southport

The following changes to business rates were announced by the Chancellor of the Exchequer in his autumn statement

•The annual increase on business rates, normally linked to the Retail Price Index will be capped at 2%

•The introduction of a £1,000 business rates discount for shops, food and drink businesses who occupy properties with a rateable value of less than £50,000. The discount will apply for 2 years between 2014/15 – 2015/16 and is subject to state aid limits

•To allow businesses to pay their business rates over 12 monthly instalments, from April to March

•The introduction of a temporary 50% relief on business rates bills for new occupants of retail premises that have been empty for a year or more at the point of occupation.

The maximum duration of the relief for the new occupant is 18 months. The relief is available to businesses which move into empty retail properties on or after 1 April 2014 and on or before 31 March 2016

•The doubling of small business rate relief to be extended for a further 12 months from 1 April 2014 to 31 March 2015.

For further information contact the Business rates team on 0151 934 4360 or send an email to [email protected]

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