A new scheme has been introduced to help local
businesses pay their business rates.
The scheme allows businesses to spread the payment of the
increase in 2009-10 business rates bills over a three year
period.
Business rates are adjusted every April to reflect changes in
inflation. This April, business rates increased by 5%.
All business ratepayers can now apply to postpone payment of 3%
of their 2009-10 business rates bill (which is 60% of the 5%
increase). So for example, if a yearly bill is £5,000 businesses
will be able to put off paying £150.
This scheme builds on other measures introduced to help
businesses meet the challenges of the current economic climate.
Those businesses who accrued a rise in their bill because
transitional relief has come to an end can defer 60% of the
increase in their bill.
You can apply anytime up until 31 March 2010 as long as you have
some of your bill left to pay. If you wish to opt in to the scheme
please complete a
deferral scheme application form.
The reduction in your payments should be reflected in either
your next instalment or the one following it, depending on when
your application is made.
For more information about the business rates deferral scheme go
to
Communities and Local Government.
