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Supporting Small Business Relief

At the Spring Budget, the Chancellor announced that a scheme of Relief would be made available to those ratepayers facing large increases as a result of the loss of Small Business or Rural Rate Relief.

To support these ratepayers, the Supporting Small Businesses Relief will ensure that the increase per year in the bills of these ratepayers is limited to the greater of:

  • A cash value of £600 per year (£50 per month)
  • The matching cap on increases for small properties in the transitional relief scheme

 

We have written to all the ratepayers that we believe may qualify for this scheme based on the information currently available

You should continue to pay your Business Rates until you have been notified of any change to your Business Rates.

If you consider you are eligible for this relief please contact the team:

State Aid Rules

The award of this relief is classed as State Aid under European Union Law and Colchester Borough Council must therefore comply with the European Union State Aid legislation. You will therefore need to confirm that the granting of this relief will not result in your organisation exceeding the state aid threshold of €200,000 Further information on State Aid law can be found at https://www.gov.uk/state-aid

When we apply the relief we will issue a state aid form that is required to be completed and returned. If we establish state aid limits have been exceeded then the relief will be removed.