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Help for businesses

Extra help is to be made available to businesses following the recent national rates revaluation.

The revaluation, which came into place on April 1, sees some businesses facing large increases in their business rates.

Cllr Aaron Spencer, Boston Borough Council's portfolio holder for Finance, said: "We recognise that times are difficult for all businesses and increases in rates will not be welcome, so we want to introduce relief schemes which will reduce the impact of the revaluation, in line with the Government's intentions.

"Central Government has placed added emphasis for local government on revenue raised from business rates.

"In common with ordinary council tax payers, it is right that businesses should contribute via their business rates, and that they should be pitched at the correct levels. Some may see the adjustment as unfair, so we are introducing support to help businesses move towards the new level of payment required following the revaluation."

The Government has made £300 million available nationally over four years from 2017/18 on a reducing basis to enable local authorities to support businesses facing large increases as a result of the business rates revaluation. Boston Borough Council's share of this is £133,190 in 2017/18, £64,692 in 2018/19, £26,638 in 2019/20 and £3,805 in 2020/21.

It is proposed that the Boston borough scheme provides support to those businesses with a rateable value of £100,000 or less - around 235 businesses in the area currently face large increases. The maximum available to individual qualifying businesses in 2017/18 will be approximately £1,500, reducing to £735, £301 and £42 in following years, after all other reliefs and exemptions have been applied,

In addition, local schemes will support small businesses which have lost some or all of their small businesses or rural rate relief and qualifying pubs where £1,000 discount will be applied.

The schemes will go before the council's Cabinet for approval on September 6.

The council's business rates section will contact qualifying businesses in due course.  In the meantime, any queries can be directed to the Business Rates Section at businessrates@boston.gov.uk