Designed to help businesses who have suffered increases in rate liability following revaluation, a new scheme is set to assist Thurrock businesses who have been worst affected.
The most recent revaluation came into effect in England and Wales on 1 April 2017, resulting in some businesses' bills increasing whilst others decreased.
Launch of the discretionary business rate relief scheme follows last year's government announcement to make a discretionary fund of £300m available for businesses across the country. As part of these plans, Thurrock has been awarded £632,000 over the next 4 years for eligible businesses. The funding allocations each year will be:
- £368,000 for 2017/18
- £170,000 for 2018/19
- £74,000 for 2019/20
- £11,000 for 2020/21
Details of the criteria by which relief will be awarded can be found at thurrock.gov.uk/business-rates
Applications for relief through this scheme must be received by 5 March 2018.