Local Discretionary Rate Relief Scheme
In the Spring Budget 2017 the Chancellor announced that the Government would establish a discretionary funding pot of £300 million that would be made available nationally. It is payable over 4 years, on a reducing scale, and local authorities can devise local schemes to support those who have faced the steepest increases in their Business Rates as a result of the national revaluation of all business properties.
The funding allocated to Wokingham Borough Council for 2017/18 has been agreed at £399,000.
The relief award is for the 2017/18 year only and will end on 31 March 2018. The amount allocated each year will reduce as the funding from Central Government is reduced, as follows:
- 2018/19 - £194,000
- 2019/20 - £80,000
- 2020/21 - £11,000
Awards such as Discretionary Rate Relief are required to comply with the EU law on de minimis State Aid.
Read our Local Discretionary Rate Relief Scheme guidance notes (PDF document) to find out more.
We've applied this relief to all businesses that we have identified meet the criteria taking into account State Aid rules.
You can email us at email@example.com or call us on 0118 974 6000 if you believe you may be entitled to this relief.