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Gloucestershire Business News

What business rates will you pay in 2020?

All Gloucestershire businesses will in the next ten days receive their new rates demands for the financial year commencing April 1, 2020.

Moreton-in-Marsh based chartered surveyors, Bankier Sloan, has once again produced its annual tables setting out in detail relief available to small businesses and Punchline is delighted to share this information with you.

Ian Sloan (pictured), principle of Bankier Sloan, is expecting all councils to implement the improved Retail Rates Relief scheme.

In short, that will mean for the coming year retail premises with a rateable value below £51,000 will see an increase in the relief available from the existing 33 per cent to 50 per cent.

For example, a shop in the centre of Cirencester in the Cotswolds with a rateable value of £35,000 will see their rates payable reduced to £8,733.

Mr Sloan said: "At a time of considerable difficulty for many high street retailers this relief will be of considerable benefit and it is important it reaches occupiers at the earliest possible date. I do expect all local councils to implement this from the April 1."

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