Good news for hundreds of Telford businesses
Telford & Wrekin Council approved a move at cabinet tonight to offer business rate relief to hundreds of local small businesses.
In April this year, the rateable value of businesses was changed due to a revaluation by the Government’s Valuation Office Agency.
This new Temporary Business Rates Relief Scheme will provide financial support to eligible businesses whose properties were subject to an increase in rateable value of more than five per cent as a result of the revaluation.
It is anticipated that 337 businesses in Telford and Wrekin will benefit from an award of discretionary relief. The money will be automatically awarded so there is no need for businesses to apply and so that businesses receive the benefit as soon as possible after considerable delays waiting for Government guidance.
Councillor Lee Carter, Telford & Wrekin Council’s cabinet member for Finance, Commercial Services and Economic Development, said: “This scheme has been designed to provide temporary relief to small and medium sized local businesses and it is obviously something that we welcome.
There is no need for local businesses to claim, the businesses to benefit will be contacted by the council.