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Rate reliefs

Discretionary Revaluation Support

Nuneaton and Bedworth Borough Council’s approved a scheme to support businesses affected by rates increases due to the national 2017 business rate revaluation conducted by the Valuation Office Agency. The full Discretionary Revaluation Support Policy is available for download.  Many businesses will be eligible for discretionary relief from the council which will reduce the impact of business rate increases. In the first year, it is estimated that £143,000 will be awarded to over 400 businesses.

For ease of administration businesses will not need to apply for support as these reliefs will automatically be applied to eligible rate payers’ accounts.

Over the next four years, eligible businesses will receive the following financial support to offset and provide a smoother transition to the new rate valuations:

Year/Proposed level of support to offset increase:

2017-2018 – 37.5 per cent

2018-2019 -  18 per cent

2019-2020 -    7.5 per cent

2020-2021 -     1 per cent

Many businesses will be eligible under the following guidelines:

 - the property must be occupied

-  it must have a rateable value of under £100,000

-  the difference in rates payable as a result of the revaluation between the 2016/17 and 2017/18 financial years must exceed £100

- the business must not be in receipt of mandatory charitable relief (at 80 per cent)

- it is not occupied by a precepting authority

In exceptional circumstances, the authority shall consider applications on a case by case basis where the ratepayer falls outside the above criteria but where they can demonstrate that they are experiencing severe financial difficulties due to the revaluation on 1 April 2017.

However, ratepayers will not qualify for any relief if it is more than state aid allows. The award of Discretionary Revaluation Support shall comply with the EU Law on State Aid on the basis that the ratepayer shall not receive more than €200,000 in total of De Minimis aid within the current year or the two previous years.The Council reserves the right to review the award of Discretionary Revaluation Support at any time.

Reporting Changes in Circumstances

Where any award is granted to a ratepayer, the Council will require any charges in circumstances which may affect the relief to be reported as soon as possible and in any event not more than 21 days from the happening of the event e.g. where the premises becomes unoccupied or is used for a purpose other than that determined by the council as eligible for relief.

Where a change of circumstances is reported, the relief will, if appropriate be revised or cancelled. Where any award is to be reduced, the Council will look to recover the amount from the date of the change of circumstances occurred.

Where a change is not reported and it is subsequently identified that it would have reduced the relief awarded, the Council reserve the right to remove any reward completely.

Fraud

Where a ratepayer falsely applies for any relief, or where the ratepayer provides false information, makes false representation, or deliberately withholds in order to gain relief, prosecutions will be considered under the Fraud Act 2006.

Please note that the relief will be automatically reassessed after 31st March 2018.

Last updated Friday, 8th March 2019

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