Council to continue providing relief for businesses
8th March 2024
Cotswold District Council has agreed to continue providing business rate relief through the Government's Retail, Hospitality and Leisure scheme for the financial year 2024/25.
In his Autumn Budget, the Chancellor announced that eligible businesses will continue to receive up to 75% business rate relief up to a cash cap of £110,000.
The council will grant these discounts to businesses who fit the eligibility criteria.
Cllr Mike Evemy, deputy leader and member for finance, said: "Whilst we must collect business rates by law, we recognise that sometimes businesses need financial support. Similarly to when we provide council tax support to our residents.
"Businesses are at the heart of our community and where we can, we will try to support as best we can."
The Retail, Hospitality and Leisure Scheme for 2024/25 will come into action from 1 April 2024.
Those businesses who currently receive business rate relief will automatically receive the new rates in their accounts.
New businesses will need to apply for business rate relief if they think they fit the eligibility criteria.
Related Articles
Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.