Local firms and pubs to benefit from Thanet’s Business Rate Relief

Thanet District Council has implemented a new policy for extra help through the Discretionary Business Rate Relief, Supporting Small Business Relief and Pub Relief for local businesses which received an increase in rateable value in 2017.

Granting of discretionary relief follows on from the Government Budget of 8 March 2017, when the Chancellor announced £300m of extra funding for local authorities to provide discretionary relief to businesses. Also known as ‘revaluation support’, the funding has been allocated to the local authorities to assist business that have suffered an increase in their bills.

Each business eligible will receive 85% of the increase imposed this year. This relief will continue over 4 years, although at a decreasing level.

The new policy, confirmed at the end of August, outlines the administration and awarding of the funding to the local businesses and sets out the criteria for the qualification of the relief.

Details of all Business Rates reliefs available and how to apply for them can be found online at www.thanet.gov.uk/your-services/business