The Chancellor of the Exchequer announced at the 2014 Autumn Statement an extra £650 million of support for 2015-16 business rate bills, bringing the total support of 2013 and 2014 Autumn Statement polices to £1.4 billion. This help includes:
- doubling small business rate relief for a further year. In England, this means an estimated 400,000 properties will pay no rates at all, while a further 200,000 properties will benefit from tapered relief;
- a 2% cap on the increase of the small business rates multiplier. This is a continuation of the 2% cap introduced in 2014-15 as part of Autumn Statement 2013 measures;
- increasing the temporary discount for shops, pubs and restaurants with rateable values below £50,000 from £1,000 to £1,500 for 2015-16, benefitting an estimated 200,000 properties in England; and
- extending the existing transitional relief scheme for two years for properties with a rateable value up to and including £50,000.
These measures are in addition to previous Autumn Statement measures that continue into 2015-16, including:
- a 50 per cent discount for 18 months to new occupants of vacant shops;
- allowing businesses to keep their small business rate relief for a year where they take on an additional property;
- business rates relief for empty new builds; and
- allowing businesses to pay their business rate bills over 12 months, in order to assist with their cash flow.
Central Government also now funds 50% of any additional local discounts granted.
The Department does not collect data on a constituency basis, but Pendle constituency lies entirely within the boundary of Pendle Borough Council. Table 1 (attached) shows the estimated number of properties in 2015-16 within the boundary of Pendle Borough Council that benefit from business rates measures extended in this year’s Autumn Statement. Table 2 (attached) presents the same information for properties within Lancashire County Council.