Budget announcement 08 March 2017 – changes to business rates
On 8 March 2017, the Chancellor announced that it will provide support for businesses facing significant increases in bills from the English business rates system.
- support for small businesses losing Small Business Rate Relief to limit increases in their bills to the greater of £600 or the real terms transitional relief cap for small businesses each year
- introducing a £1,000 business rate discount for public houses with a rateable value of up to £100,000, subject to state aid limits for businesses with multiple properties, for one year from 1 April 2017.
- providing English local authorities with funding to support £300 million of discretionary relief, to allow them to provide support to individual hardship cases in their local area
Businesses must keep paying their legally established rates liability as set out on their current 2017 bills until the regulations take effect.
You do not need to contact us regarding these changes, we will be in touch with you and issue amended bills for 2017 once the necessary administrative guidance has been received.