AUGUST 2010
NEWS UPDATE
As part of our
policy to work with businesses and to keep them updated
where possible on new directives or policies which may
help or impact on businesses we would, therefore, like
to advise you of information received from Tendring
District Council.
Some of you may
already be aware of the following but if not we hope it
will be informative and helpful. Usually we would pass
on information at our monthly meetings but as we are on
a Summer recess and will not now meet until October, we
have taken this step to ensure the information is given
as soon as possible.
RETAILERS GRANT SCHEME
This scheme
offers grants to A1 retail outlets to help them fund
capital projects including, Exterior/Interior Fittings,
Painting, Illuminations, Security Systems, Till upgrades
etc.
Grants are
available of between £250.00 and £2,000.00 and will
require like for like match funding by the applicant.
Full details
and Application Forms can be found on the Tendring
District Council Website or you can contact Rachel Fryer
on 01255 686149,
rfryer@tendringdc.gov.uk.
The first round
of applications closes on 16th August 2010
but a further opportunity to apply will be available
shortly afterwards.
BUSINESS RATE CHANGES
There will be a
change to the Business Rate from 1st October
2010 which should benefit and help most Businesses. The
following is exactly how the changes were relayed to us
by Tendring District Council.
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Putting it in very
basic terms, currently if your Rateable Value (RV) is
between £6000 and £11999 you are eligible for Small
Business Rate Relief. This relief is payable on a
sliding scale from 0% to 50%, so if you have a Rateable
Value of £6000 you would be eligible for 50% Small
Business Rate Relief (SBRR), if your RV is £9000 your
SBRR reduction would be 25%, and if your RV was £11520
you would only receive 4% reduction.
The changes coming
in on 1 October 2010 are effectively that if you are
eligible for SBRR, then the % that you are eligible for
doubles – the sliding scale is from 0% to 100%. E.g. if
you have an RV of £6000 you will get 100% relief (no
rates payable), if your RV is £9000 you will now get 50%
relief and if your RV is £11520 you will get 8% relief.
These changes are
valid for a year from 1 October 2010.
As far as I’m aware,
revised bills will be issued to all eligible properties
in September/October and we continue working very
closely with Business Rates to ensure as many people as
possible benefit from this relief.
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We hope you
find the foregoing information helpful and should you
have any questions please feel free to contact us.
