Business rate bills landed with our members over the past few weeks and for many the rises were not anticipated. Bills will continue to rise for the next five years, as the transitional relief applied is reduced each year. And appealing business rate valuations is less simple under new rules, as we explored in our briefing to members in January.
There is some better news however. In part due to the campaign, the Treasury has announced a package of £400m to be distributed by local authorities to businesses who will struggle to cope with the rises. Although it has not yet been decided how these funds will be distributed, businesses in Lambeth can register their interest in receiving a payout from the hardship fund now. Find out more and register here.
Our members in Southwark are still waiting to find out whether a similar registration link will be set up for them and we will be writing to Southwark members as soon as we know.