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Council leaders to hold talks on business rates relief schemes
10:00am Monday 10th March 2014 in Local news
Bradford District leaders are to debate two business rate relief schemes in a bid to stimulate the local economy.
Bradford Council’s Executive will decide on Tuesday whether to adopt two schemes under discretional powers allowed by the Government.
The Retail Rate Relief scheme provides relief up to £1,000 for certain occupied retail properties. In addition, it provides for 50 per cent relief for businesses who move into empty retail properties which have been vacant for more than a year.
The types of businesses eligible include the sale of goods, food and drink, and the provision of services.
According to Government guidance, financial service businesses – which include betting shops and pay day lenders – would not qualify for the relief.
A report to the executive says that the New Build Empty Property Relief scheme is intended to provide an incentive for regeneration. It reduces the risk of people who invest in new-build commercial properties having to pay rates on empty property.
The scheme allows for up to 18 months exemption from date of completion.
Council leader, Councillor David Green, said: “Both schemes will contribute towards improving support for businesses in the district while increasing activity and employment in the construction industry, and contribute to economic redevelopment.”