New business rates discount scheme for local retailers
Many retailers in the Forest of Dean District will benefit from a new business rates discount.
Members of the council have agreed to support a government scheme which will cut retailers’ rates by a third provided they have a rateable value of £51,000 or less. Those already receiving 100% relief through other schemes will continue to do so.
It is estimated that about 128 businesses in the district would benefit from this discount, which was announced in the Chancellor’s 2018 Autumn Statement.
The Deputy Leader of Forest of Dean Council and Cabinet Member for Finance, Cllr Roger James, says, “This government scheme has our full support, and I am sure that the discount will be welcomed by many local retailers. This and other forms of relief are of direct benefit to the local economy and should help our high streets cope with the challenge of changing shopping trends posed by the Internet in particular.”
The council will be sending confirmation about the discount to everyone who qualifies based on our current business rates records.
Further details will be published on the council’s website within the next few weeks.