St Edmundsbury Borough and Forest Heath District Council, which cover key commercial areas in Newmarket, Bury St Edmunds and Haverhill, are proposing to roll out a £1,000 reduction for retail businesses, where the premises have a rateable value under £50,000.
It has been reported that the Local Authorities were working to identify those eligible, to include the discount in their March bills. The reduction is not available for businesses such as betting shops, solicitors, vets or estate agents.
Whilst not necessarily providing a significant reduction, it should still provide some relief, particularly to smaller independent retailers, whose property does not currently qualify for small business rates relief.
Simon Burton of BSM's Bury St Edmunds office comments "retailers need to get in contact with their Local Rating Authority to ensure that, if eligible, they get their claim logged for a reduction/rebate. There is nothing to lose!"