Qualifying businesses in Sefton can expect to save a bit of money after the council announced rate cuts.
The Rate Relief Scheme will benefit companies and individu- als that have faced the steepest increases in their business rates as a result of the 2017 revalu- ation undertaken by the independent Valuation Office Agency.
A report outlining the scheme was agreed at a full council meeting on Thursday, September 21.
The Revaluation Relief Scheme is effective from April 1, 2017 and will be provided over four years but is cash limited based on funding from central govern- ment.
Sefton’s allocation of the gov- ernment funding for discretionary rate relief is to be £945,838 spread across the next four years.
The assistance will be targeted at those facing significant increases in rates in lower value properties. Normally this would be properties with a rateable value of less than £200,000 with a rates increase of 12.5% or more.