The Chancellor of the Exchequer announced on 29th October 2018 at the Autumn Budget the following Business Rate measures:
That local Councils can provide a business rates Retail Discount Scheme for occupied retail properties. The scheme will available to ratepayers of premises with a rateable value of less than £51,000 that are wholly or mainly being used as shops, restaurants, cafes and drinking establishments.
The discount will apply to each of the years 2019-20 and 2020-21.
The value of the discount will be one third of the demand (commonly referred to as the bill), and will be applied after any mandatory or discretionary have been awarded. Where the Council applies a locally funded relief, for example hardship relief, this must be applied after the Retail Discount.
Further information can be found on the Retail Discount Scheme page.
Local newspaper relief
The £1,500 business rates discount for office space occupied by local newspapers is extended to 2019-2020.