The Deferral Scheme - A Business Support Initiative

With effect from 31st July 2009 businesses were able to apply to their local council to defer part of their 2009-10 business rates bills thanks to a government scheme.

The scheme, designed to help ratepayers during the recession, allows all business ratepayers to apply to their local council to defer payment of part of the increase in the 2009/2010 business rates bill, over the next 2 years. For those who have had a rise in their bill because their transitional relief come to an end on the 31st March 2009, they can also defer part of the increase over the following 2 years.

In August 2009, North West Leicestershire District Council sent out a simple one page application form together with details of how to apply for this relief. Businesses were encouraged to apply to the council as soon as they received the application form. However a business has up to 31st March 2010 to apply for this relief. Once approved, businesses will pay reduced instalments for the remainder of the financial year.

If you have more than one property within North West Leicestershire only one application form needs to be completed, provided all the relevant addresses are given on that form.

Further help may be available for small businesses to pay their bills, with Small Business Rate Relief (SBRR). This relief supports small businesses who generally occupy only one property and where the rateable value of that property is under £15,000 RV (£18,000 from 1st April 2010).

Full details of all reliefs available to a business can be found by visiting: www.businesslink.gov.uk/realhelp or speak to a Business Link adviser on 0845 600 9006.

If you require further details about either the above deferral scheme, Small Business Rate Relief or any other aspect of Business Rates, please contact the Revenues Team.