Businesses benefit from new round of rate relief
More than 300 businesses in West Oxfordshire have been awarded business rates relief.
Bills for 2018/19 are being sent out with the relief included in the total rather than individual firms having to apply for it separately.
A total of £257,000 has been allocated with individual businesses receiving up to £6,300 in relief. Anyone who feels they are not eligible should advise us within 28 days of receiving their revised bill.
Cllr Toby Morris, Cabinet Member for Finance, said: “This money has been given to us by the Government and this year we have decided to include it in bills so businesses do not have to apply separately.
“This way everyone will receive the money they are entitled to and hopefully it will lessen the financial impact immediately.”
This is the second year of relief following the national revaluation of business rates conducted by the Valuation Office Agency which resulted in many firms receiving increased bills last year.
The relief scheme is in place to help businesses that have a rateable value of less than £200,000.
Central government has allocated £300m for local authorities to create local discretionary relief schemes to help those affected by the rates rise.
Government funding available for local authorities is expected to last four years, but the amount of funding provided by the government for business support will reduce each year.
In addition to the above scheme, our Small Business Rate relief scheme continues and is for eligible businesses occupying premises with a rateable value of less than £15,000.
For further details see our business rates webpage.