Member Article

Retailers urged to press for rate relief adoption

Chartered surveyors Sanderson Weatherall is urging retailers to press for local authority adoption of a rate relief which could see them receive up to £1,000 each.

The business Rates Retail Relief is applicable to all occupied retail properties with a rateable value of £50,000 or less. However, Richard Farr, a Partner at Sanderson Weatherall’s Newcastle office, warned the money does not pass directly between the Government and the retailer.

He said: “The relief is being administered through participating local authorities, each of which will set up its own scheme and even decide whether that cash gets passed on to the qualifying retailers.”

Announced in the Autumn Statement in December 2013, the relief will apply to each of the years 2014-15 and 2015-16, with local authorities expected to include details of their plans in their bills for the beginning of that year.

Richard said: “Retailers should be pressing their local authorities to introduce schemes and ensure the money is passed on to qualifying businesses. We are in a position where Government is delaying the rebasing of rates until 2017, which means businesses have two more years of paying out based upon peak values, so this money will be hugely valuable to many smaller retailers.

“Our team has been in contact with hundreds of retailers to inform them of this relief and we would urge them to get in touch to find out more, and to contact their local authorities to encourage them to set up a scheme and put the money back in retailers’ tills.”

This was posted in Bdaily's Members' News section by Recognition PR Business Team .