Date Published: 06 February 2020
More than 150 businesses in Rutland are set to benefit from changes to government discounts on local business rates.
The Government has announced that it will increase its current retail discount from one-third to 50 per cent, as well as extending the discount to cinemas and music venues. It has also confirmed that it will extend the duration of the local newspapers discount, and introduce an additional discount for pubs.
The increase in retail discount from one-third to 50 per cent will apply in 2020/21 for eligible retail businesses occupying a property with a rateable value of less than £51,000.
The extension of the retail discount applies to eligible music venues and cinemas with a rateable value of less than £51,000.
The new pubs discount will provide a £1,000 discount to eligible pubs with a rateable value of less than £100,000 in 2020/21. This is in addition to the retail discount and will apply after the retail discount.
“This is good news for local businesses in Rutland. We have around 130 businesses that will benefit from the changes that have been announced to the government’s national retail discount, together with around 30 licensed venues that will benefit from the pubs discount. Rutland County Council has no control over business rates. These are set by government and we are required to collect on their behalf. Ratepayers don’t need to apply for the discount. It will be automatically deducted from their bill for 2020/21.”
Councillor Gordon Brown, Cabinet Member for Revenues and Benefits