Business Rates Reoccupation Relief to help businesses

Thinking of starting a business?  Always wanted a shop on a high street? Well help is at hand with the new Business Rates Reoccupation Relief that has been introduced to help business in the current economic climate.

In the Autumn Statement last year the Government said that it would provide a 50% business rates discount for 18 months for businesses moving into previously empty retail premises between 1 April 2014 and 31 March 2016, up to State Aid De Minimis limits (up to a maximum of 200,000 Euros in State Aid over a 3 year period including the current year).

This relief is intended to encourage reoccupation of shops that have been empty for a long period of time and reward businesses that make this happen, whilst encouraging a thriving and diverse town centre and decreasing the number of vacant shops.

Properties that will benefit from the relief will be:

• Those when previously in use, were wholly or mainly used for retail
• Were empty for 12 months or more immediately before their reoccupation
• Become reoccupied between 1 April 2014 and 31 March 2016
• Are being used for any use (ie not just retail use)

Cllr Maurice Howse, Enterprise, Housing and Revenues Portfolio says: “The Discretionary Reoccupation Rate Relief Scheme is a valuable addition to the suite of rate relief which is available to businesses and provides much needed impetus for bringing empty retail units back into use.  I believe the payment of up to 50% of the business rates to small retailers will have a beneficial effect on a number of small retailers in the town."

For more information or for an application form please contact the District Council's Business Rates team on 01789 260993 or email NNDR@stratford-dc.gov.uk.