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Small companies in Gravesham set to enjoy business rate cut

PUBLISHED: 07:00 28 February 2020

Cllr Narinder Singh Thandi says the business rate cut will help many small companies throughout the borough. Picture: Gravesham Council

Cllr Narinder Singh Thandi says the business rate cut will help many small companies throughout the borough. Picture: Gravesham Council

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Businesses across Gravesham are about to get a boost to their bottom line as a new business rate system arrives.

The council said hundreds of pubs and small businesses across the borough will benefit from a reduction in business rates from April 1.

Announced in January by the government, the Business Rates Discretionary Relief Policy will benefit pubs with a rateable value of less than £100,000 and small businesses such as shops, post offices, hair and beauty salons, and sandwich and coffee shops with rateable values of less than £51,000.

The authority said helping to keep red tape for small business owners down, Gravesham Borough Council will be writing to all those qualifying for the business rate relief rather than expecting them to apply making it easier and more convenient.

Although business rates are collected by Gravesham Borough Council, the level at which they are levied is set by central government based on the rateable value of each individual property.

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Cllr Narinder Singh Thandi, Gravesham Borough Council's cabinet member for performance and administration, said this new system will be put in place with the minimum of disruption to those who run their financial departments.

He said: "This will be welcome news for small businesses in all parts of the borough.

"We are lucky to have such a diverse range of small, independent traders, both in Gravesend town centre and in our rural communities. We are all well aware of the challenges faced by these businesses, which are the heartbeat of our economy.

"We want these traders to be able to concentrate on running their businesses rather than form filling, and so will be writing to all those who qualify for business rate relief under this new policy to inform them of the good news rather than expecting them to submit an application to us."

Letters will be arriving with qualifying businesses over the next few weeks ahead of 1 April to give them a head start in taking advantage of the reduced costs.

Any business that has not received notification by April 1 but believes it is eligible should email rates@gravesham.gov.uk.

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