Firms eligible for rate relief
FENLAND District Council has identified that almost 80 per cent of businesses in Fenland could save up to £1,000 on their business rates. As a result, it has sent out letters alerting almost 1,000 businesses that they could be eligible for business rate r
FENLAND District Council has identified that almost 80 per cent of businesses in Fenland could save up to £1,000 on their business rates.
As a result, it has sent out letters alerting almost 1,000 businesses that they could be eligible for business rate relief. Under the council's 'Open for Business' priority agenda, supporting businesses is a key element of promoting a vibrant business community in Fenland.
Deadline for claiming business rate relief for 2005/06 is September 30 and the council is reminding businesses that they can get their rates reduced for 2006/07 at the same time.
Businesses with premises attracting a rateable value of up to £5,000 can claim a 50 per cent reduction, provided these are their only business premise in England.
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Premises with a rateable value of between £5,000 and £10,000 can receive business rates rate relief on a sliding scale from 50 per cent at £5,000 to zero at £10,000, but still save money by paying the smaller multiplier.
Business premises with a rateable value of between £10,000 and £15,000 can be eligible for the smaller multiplier relief, with a potential saving of up to £100.
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The rate relief is funded by central Government and administered by Fenland Council. The letters to businesses have included application forms and businesses are urged to fill them in and send them back to the council so relief can be activated as soon as possible.
Any business rate payers within the specified bands, who have not received letters and forms and who believes they may be eligible for relief, can contact customer access staff at Fenland Hall, on 01354 654321 to request details of how they can save money.
Council leader, Councillor Geoffrey Harper, said: "Clearly, helping businesses to reduce their overheads can only help. I would urge anyone in business who believes they could be eligible for business rates relief to contact the council. We are here to help.