Council consults local businesses on rate relief following Central Government changes
Press Release: 04/07/2017
Winchester City Council has been awarded £900,000 from central government to help local businesses struggling with changes in their business rates bill.
Following the recent Business Rates Revaluation, which was undertaken to review property rateable values by the Valuation Office (an agency of HMRC), Winchester City Council has been awarded funding to assist businesses which had a significant increase in their rates from the 1st April 2017.
A consultation is underway to determine how best to distribute the £900,000 to businesses via a rate relief scheme. Businesses can take part in the consultation at https://winchester.citizenspace.com/revenues/rate-relief-for-businesses
Cllr Guy Ashton, Portfolio Holder for Finance at Winchester City Council, said:
Businesses in the Winchester District have seen a variety of changes to their rateable values as a result of the recent revaluation. Whilst some businesses' rates have decreased or stayed the same, other businesses are facing more substantial increases in their rates bills. The government's support aims to help businesses cope with these changes and I would encourage all rate payers to have their say on how we most effectively distribute those funds
A property’s rateable value is the open market rental value as at 1st April 2015, based on an estimate by the Valuation Office. Details about business rates and relief schemes are available at http://www.winchester.gov.uk/business/business-rates/
To find out more about Winchester City Council’s work to help businesses, go to www.winchester.gov.uk/business