LEICESTER CITY COUNCIL GIVE RATE ADDITIONAL RELIEF


March 25, 2019

Industrial/Warehouse News

When the 2017 Rating List came into effect on 1 April 2017 the Rateable Value of all business properties within England and Wales changed, some Rateable Values went up and some went down, there were winners are losers across the country.

As a result, the Government introduced a transitional relief scheme which essentially phased in increases and reductions over a period of years.  The Government also allocated additional funding to Local Authorities to give additional relief to companies who were facing the increases in their particular areas.

The cost of the scheme in the 2018/2019 financial year to Leicester City Council was originally estimated at £626,000 but it is understood that the implementation of the scheme actually cost less than this.  As a result Leicester City Council have decided to limit the net increase in business rates payable for ratepayers occupying properties which fall within the £20,001 – £100,000 Rateable Value of 6.2% instead of 8%.  This is subject to a cap on the relief of £10,000.

The local transitional relief scheme in Leicester for 2018/2019 is as per the table below:

Rateable Value Band Local Scheme – Limits on Rate Increases Government Transitional Scheme Limited
£0 – £20,000 3% 7.5%
£20,001 – £100,000 6.2% 17.5%
£100,001 – £200,000 18% 32%
£201,000 and over No limit 32%

 

Alastair Fearn, Director within FHP’s Business Rates Team commented:

“The alteration to the scheme by Leicester City Council is purposely targeted at limiting rate increases for smaller rate payers whilst those ratepayers who occupy the Rateable Value of over £201,000 will have no limit relative to the Government guidelines.

Ratepayers in Leicester with a Rateable Value of between £20,000 and £100,000 may well be seeing a refund come through in the next few weeks.

We are very active within Leicester currently advising a number of ratepayers in relation to not only reducing their Rateable Values but advising on business rates mitigation whilst they are empty and also reducing Rateable Values to £0 whilst buildings are undergoing reconstruction or significant repair works.

I would be pleased to speak to any ratepayers who have queries about their bill or are interested to find out if we can help reduce their business rates payable.”

BACK TO NEWS

Contact Agent

Alastair Fearn

T: 07917 460 025

E: alastair@fhp.co.uk

Xhas now been added to your account

CONTINUE BROWSINGGO TO MY ACCOUNT