Charnwood Borough Council - Leading in Leicestershire

Hundreds of shops and small businesses in Loughborough and Charnwood are set to benefit from reduced rates, thanks to a new rate relief scheme. The scheme starts in April 2005.
Cllr Max Hunt, Leader of Charnwood Borough Council said: "I'm delighted by this news. It comes as a bonus to many small companies, especially those in less well-off areas, who find business rates disproportionate to their turnover. I would encourage small businesses in these categories to apply without delay. Business rates are set nationally, beyond the control of the Borough, but we are anxious that all businesses in Charnwood who qualify do apply this year."
Cllr Ian Sharpe, Finance Lead member added: "Any business occupying only one set of premises with a rateable value of less than £10,000 will qualify for a cut in the rates they pay. Businesses with a rateable value of less than £5,000 will have their rate bills halved. Between £5 and £10,000 the reduction will reduce by £1 for every £100 extra of rateable value. So a business with a rateable value of £5,500 gets a reduction of 45%, one with a rateable value of £7000 gets a reduction of 30% and one with a rateable value of £9,000, gets a reduction of 10% "

Officials at Charnwood have written to all businesses in Charnwood who meet the rateable value criterion explaining the scheme and inviting applications. So far we have had about 1,000 applications and many of these will pay less in 2005/6 than they have paid in 2004/5. Those ratepayers who applied before 28th February have the relief shown on their annual rate bills.

Any small business which thinks it might qualify should contact the Borough Council about the scheme; Application forms are available from the Business Rates Office by calling at Southfields or telephoning 634831 or 634832.