Businesses given a helping hand with £1m rates reductions

Tuesday, 12 March, 2019

Hundreds of businesses in East Hampshire are set to receive discounts on their business rates totalling more than £1 million.

More than 600 local businesses will pay less for their public services this year, with some enjoying a 33 per cent reduction, in a bid to boost the local economy.

The two schemes are being administered by East Hampshire District Council and are backed by Government money.

The Retail Discount Scheme will give 384 smaller business in the district one third off their business rates, amounting to rate relief of £1,132,583. It is aimed at shops, restaurants and pubs with a rateable value of less than £51,000.

A further 283 businesses will be eligible for the Local Discount Scheme. Businesses with an increase in their rates of more than £600 will receive a 17.5 per cent discount on that rise, amounting to a further £82,124.

Cllr Guy Shepherd, EHDC Portfolio Holder for Finance, said: “This funding will be a welcome boost to our local businesses.

“The government has made this money available to local councils and it has been up to us to implement the scheme.

“We decided that businesses receiving the Retail Discount Scheme would not be eligible for the Local Discount Scheme to maximise the number of businesses we can support.

“It is great to think that more than 600 businesses will benefit from these schemes, supporting the local economy across the district.”

Businesses getting the discounts will be contacted by the council. If any business owners believe they should be eligible they should contact the council on 01730 234159.

For more information go to EHDC's website: www.easthants.gov.uk/budget-changes