More than half of Wealden firms could pay no business rate at all

Wealden Council says more than half of businesses in the district could pay no business rates at all in the future because they qualify for an increase in small businesses rate relief.Wealden logo best for widescreen 18-01

But, Alex White the council’s head of customer services, admitted some businesses would see higher bills following the recent revaluation by the Valuation Office Agency.

He says, in a press release, that of the 5,754 businesses in the district more than half could pay no business rates.

And once nationwide guidelines have been finalised the council will put information online about a range of measures which will help Wealden businesses affected by the recent revaluation.

Extra measures were announce by the Government in the March budget which include:

  • A £300 million Discretionary Rate Relief Scheme to be distributed by rate collecting authorities.
  • A pledge that anyone previously receiving Small Business Rates Relief will pay no more than £50 per month in 2017/18.
  • A £1,000 reduction in the annual rate paid by public houses with a rateable value below £100,000.

Full details can be found on the Spring Budget page of the Wealden website. The consultation period for the first of these new measures has only just ended, and national guidelines have yet to be finalised for all three.

“Once we have details of how the measures will work, we will put the information, on the Business Rates pages of the Wealden website” said Mr White.

“We will implement the new reliefs as quickly as possible.  In the meantime, businesses should continue to pay the monthly amount that has been set. We also already provide a range of other Discretionary Rate Reliefs which have been worth over £235,000 to local businesses since 2015.”

More information about the Council’s existing Discretionary Business Rate Relief is also available on the Wealden website.

If businesses believe their premises have been incorrectly revalued, they should contact the Valuation Office. You can find out more about challenging a revaluation at the Valuation Agency Office’s website.

As part of the business rate revaluation package, the rate of Small Business Rate Relief has doubled from 50% to 100% for businesses with a rateable value of less than £12,000.

Those with a rateable value between £12,000 and less than £15,000 will receive tapered relief.

These changes alone are believed, by the council, to be worth £3.4 million to Wealden businesses. Businesses will need to apply for this.  More information is available on the Business Rates pages of the Wealden website.

See also:

Business rates explained – there’s good news for small firms

Plans to extend Uckfield pre-school

Financial drop-in sessions prove a success in Uckfield

Find local businesses in our Uckfield Directory

How to advertise on UckfieldNews.com

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