East Riding of Yorkshire Council Cabinet has agreed to adopt the government’s scheme for Business Rates Reoccupation Relief in the East Riding.
The discretionary scheme is funded by central government, and offers a discount on business rates when previously empty retail properties are reoccupied.
The government announced this scheme in the Autumn Statement, and has now provided guidance on its implementation to local authorities. The aim is to encourage the re-use of retail premises that have previously been empty for 12 months or more.
The Relief is a 50% discount from business rates when the previously empty retail properties are reoccupied, and will last for 18 months from when the reoccupation takes place, as long as it is between 1 April 2014 and 31 March 2016.
The new occupation does not have to be for retail purposes, but certain exceptions apply, including shops used as betting shops, payday loan shops and pawnbrokers.
Councillor Jane Evison, portfolio holder for economy, investment and equalities, said: “This an excellent opportunity for businesses to take advantage of a scheme which will offer some financial help to get a business started.
“It is also worth remembering that the council has an excellent business support team, and I would encourage any businesses in the East Riding who would like to know more about the Relief scheme, or indeed other assistance that may be available, to contact them for help and advice.”
Details of the Reoccupation Relief and how to apply for it – and full details of the council’s business support team - are available on the council’s website: www2.eastriding.gov.uk/business/business-advice-and-start-up-support/