From April 2018, Business Rates will rise in line with the lower Consumer Prices Index (CPI) measure of inflation, not the Retail Prices Index (RPI).
Support for Small Businesses
In 2018/19 the Support for Small Business Relief will continue in accordance with the Spring Budget 2017 announcement.
Support for Pubs
The Government introduced an up to £1,000 business rate discount for occupied ‘Pubs’ with a rateable value of up to £100,000, subject to state aid limits for businesses with multiple properties. This relief has now been carried over for a second year into 2018/19.
At the Spring Budget, the Government announced the establishment of a £300m discretionary fund over four years from 2017/18 to support businesses in their area. The £300m will cover the four years from 2017/18. Dudley have been allocated a share of this fund, and will be allocating to eligible businesses from April 2018.
Under Dudley MBC’s Local Discretionary Relief scheme, we have not awarded relief to the following:
In 2017/18 businesses that received an increase in their business rates charge as a result of the 2017 revaluation were awarded relief to cover 100% of the increase, in line with the above criteria.
In 2018/19 businesses that received an increase in their business rates charge as a result of the 2017 revaluation were awarded relief to cover 45% of the increase, in line with the above criteria.
Local Newspapers – here the Government will introduce a £1,500 discount for office space occupied by local newspapers, up to a maximum of one discount per local newspaper title and per property, and up to state aid limits, for 2 years from 1 April 2017.
For further detailed information on the above reliefs, please see Changes from April 2017.