A local business rates relief scheme is open for applications following lobbying of the government by the council and Lambeth business improvement districts. Government has now offered Lambeth £2.9m for a business rate relief scheme in the 2017/18 financial year.
The council has already awarded £280,000 to help 33 businesses that have applied. More businesses are encouraged to come forward if they are struggling to pay their business rates bills.
For details of this Additional Discretionary Fund see: http://www.lambeth.gov.uk/businessrates .
Lambeth business rates rose on average by 35% (the 4th highest rise in the country) in the 2017 rates revaluation imposed by government.
In April 2017 business rates will go up by an average of 35% across Lambeth following the government’s review of business rateable values. Restaurants, pubs, cafes and shops in Lambeth’s town centres are some of the worst affected businesses. Hear the views of local business owners on this video.
After talking to local businesses about this huge tax increase the council has written to the Secretary of State for Communities and Local Government. The letter asks the government to urgently help businesses by introducing the massive rise over several years and give a better deal on transitional relief. Government should look again at the effectiveness of the business rates system for the longer term future.
To show your support for local businesses please sign this petition.
Businesses can check their new rateable value online at https://www.gov.uk/correct-your-business-rates