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Rate relief available for small businesses

[Thursday 18 December 2008]

SMALL businesses in Richmondshire are being encouraged to take advantage of relief which could save them hundreds of pounds on their business rates.

Rate relief for small businesses was only introduced in 2005, and some people may not have realised they are entitled to it.

Fleur Butler - Richmondshire District Council

As part of a series of measures being developed to help the district’s businesses, Richmondshire District Council is working to raise awareness of the Small Business Rate Relief (SBRR) scheme.

Earlier this month, the Council axed all parking charges in its car parks right up to Christmas Day. Further initiatives are planned to lessen the impact of the nationwide economic downturn.

The SBRR is a national scheme, introduced in 2005. Eligible businesses with rateable values of below £5,000 may get 50 per cent rate relief on their liability. Those with rateable values of up to £10,000 will also benefit, on a sliding scale. Businesses with a rateable value of over £10,000 and below £15,000 may also benefit from paying a lower rate poundage.

However, businesses that receive the relief will be reviewed in line with the publication of the new rating list every five years.

Councillor Fleur Butler, Richmondshire District Council’s Prosperous Communities spokesperson, said: “Rate relief for small businesses was only introduced in 2005, and some people may not have realised they are entitled to it. However, ratepayers could save hundreds of pounds, so it is very important that they get in touch if they think may be missing out.”

There are certain eligibility criteria, so business owners are being urged to contact the Council’s Revenues and Benefits Team to find out more about the SBRR scheme. They can also contact the Economic Development Team for further business advice. The phone number is 01748 829100.

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