Draft Retail Rate Relief
In the Autumn Budget 2018, the Chancellor announced that eligible retailers will receive a one third discount on their business rates bills for two years from April 2019. Relief will be provided to eligible occupied retail properties with a rateable value of less than £51,000 in 2019/20 and 2020/21.
The Retail Rate Discount scheme is administered by billing authorities who will grant the discount to qualifying ratepayers under discretionary powers. Each billing authority has to develop its own policy with which to administer retail discount in its area.
Melton Borough Council’s policy, which is subject to formal approval by Full Council Meeting on 10 April 2019, can be viewed here.
Ratepayers identified as being likely to be eligible for Retail Discount will be contacted directly following the 10 April 2019.
Awards such as Retail Discount are required to comply with the EU (and any succeeding) law on State Aid. Businesses that have received any other de minimis State Aid, including any Retail Discount on any premises, need to confirm that the award of Retail Discount does not exceed the €200,000 an undertaking can receive under the de minimis Regulations EC 1407/2013. A copy of the declaration can be obtained here.
As long as the UK is part of the EU, state aid rules have direct effect without the need for domestic implementing legislation. If the UK were to leave the EU on 29 March 2019 with no agreement, the Competition and Markets Authority will take over state aid regulation within the UK at that point.