Council to continue providing relief for businesses in the Cotswolds
Cotswold District Council have agreed to continue providing business rate relief through the Government’s Retail, Hospitality and Leisure scheme for the financial year 2024/25.
In his Autumn Budget, the Chancellor announced that eligible businesses will continue to receive up 75% business rate relief up to a cash cap of £110,000.
The Council will grant these discounts to businesses who fit the eligibility criteria.
Cllr Mike Evemy, Deputy Leader and Member for Finance, said, “Whilst we must collect business rates by law, we recognise that sometimes businesses need financial support. Similarly to when we provide council tax support to our residents.
“Businesses are at the heart of our community and we where we can, we will try and support as best we can."
To find out more about business rate relief, please visit: //www.cotswold.gov.uk/business-and-licensing/business-rates-and-rate-relief/rate-relief/
The Retail, Hospitality and Leisure Scheme for 2024/25 will come into action from 1 April 2024.
Those businesses who currently receive business rate relief will automatically receive the new rates in their accounts. New businesses will need to apply for business rate relief if they think they fit the eligibility criteria.
Contact Information
Cotswold District Council Communications Team
Notes to editors
Further information:
Businesses rates are a tax on the occupation of non-domestic property, such as a business. Businesses are responsible by law to pay the business rates in order to operate.
Rates are evaluated by the Valuation Office Agency, and the Counci has a duty to collect these. There are multiple relief schemes are in place to help businesses to pay their business rates if they are struggling.
Photographed:
Cllr Mike Evemy at Rave Coffee in Cirencester
[Photo for illustrative purposes only]
Cabinet papers: