Business Rates transitional relief scheme being implemented
Published Thursday, 20 July 2017
A scheme to support local businesses particularly affected by the government’s 2017 business rate revaluation is being implemented later this year.
The agreement at Wednesday’s meeting of the Executive follows consultation about the criteria to be employed in the authority’s scheme and allows affected businesses to receive the relief as soon as practically possible - Bromley is one of the first, amongst local authorities, to agree and implement a transitional relief scheme.
The news follows the announcement by the Chancellor of the Exchequer earlier this spring that £300 million would be available nationally over four years to support businesses that had been affected by the largest business rate increases following the government’s 2017 revaluation of business rates. Read more ...