The York Council is planning to reduce the Business Rates burden on 1650 retail outlets and pubs in the City.
It means for smaller businesses, occupying premises with a rateable value of less than £51,000, tax bills could be halved. As well as the basic discount, pubs will get an extra £1000 off their bills if their premises have a Rateable Value of less than £100,000.
The Council says that properties that will benefit from the relief will be occupied hereditaments with a rateable value of less than £51,000 that are wholly or mainly being used as shops, restaurants, cafes, drinking establishments, cinemas and live music venues.
A report to a meeting taking place on 9th March lists dozens of examples of the type of business which could benefit
The proposal is likely to be good news for those businesses that publicly criticised the Council for what they claimed was a lack of response to their problems during the recent floods.
It is thought that the move could also encourage new businesses to occupy empty properties in the City.
The report says, “As with the previous schemes businesses often fail to apply so the council will automatically award the discount to all the properties that can be identified as meeting the criteria. It will be the responsibility of the business to complete and return state aid forms or risk the award being rescinded”.
There is no cost to the council in providing either discount which will be fully reimbursed by Central Government through the “rates retention system”. The scheme will apply for 2020/21 only unless the government renews the funding support next year