Pendle introduces discounted business rates

Pendle Council is set to introduce a new local discretionary scheme which means some businesses could receive help towards their business rates.

A revaluation of business rateable values by the Valuation Office Agency earlier this year meant some business faced big rises in their rates from April because they no longer qualify for small business rate relief.

At the latest executive meeting, councillors agreed to cap business rate increases for those eligible to help bring down the cost.

This means that up to 300 Pendle businesses which have a rateable value of less than £200,000 a year and are facing increases in their rates could receive help.

The Discretionary Relief Scheme is expected to save local businesses a total of £100,000 in the first year.

Councillor Tony Greaves, who oversees Pendle’s finances, said: “Supporting our businesses is absolutely crucial and we’re pleased to be able to offer this much-needed help.

“These are difficult times and we now need to make sure that those who are eligible can avoid steep increases in their business rates.

“We’ll be identifying businesses which qualify for the relief and sending them a revised bill. This will show the amount awarded and refund any overpayments where applicable.”

In addition to discretionary relief, the small business rate relief scheme is available for businesses occupying premises with a rateable value of less than £15,000.

Meanwhile, support is already being given to a number of pubs in Pendle.

To date 16 out of 34 contacted by the Council are receiving a £1,000 discount on their bill for 2017/18. Councillor Greaves added: “We’ve written to 34 pubs which we believe are eligible for support and to date 16 have received the discount. We’re waiting to hear from the remaining 18.”