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Cornish small businesses get £1,000 business rates cut
10:30am Saturday 15th March 2014 in News
Shops, restaurants, pubs and cafes in Cornwall have received confirmation this week that their business rates will be £1,000 less this year.
So far 3,877 businesses in Cornwall have been identified as eligible for the scheme, which affects retailers with a rateable value of £50,000 or less with around £3,383,128 of business rate rebates set to be confirmed.
Cornwall Council has taken up the Government’s offer, announced in the Autumn statement last December, which gives local authorities the option of providing rate relief of up to £1,000 to all occupied retail properties with a rateable value of £50,000 or less for both 2014/15 and 2015/16.
The council says that it has worked hard to identify businesses eligible for this rebate but if any business feels that they are eligible and the rebate hasn’t been applied, they should contact the authority as soon as possible.
Cornwall Council cabinet member for the economy Julian German said: “In these difficult economic times any financial help that we can give to businesses is important, therefore I am delighted that Cornwall Council is providing this concession to all our retailers with a rateable value of £50,000 or less.”
Alex Folkes, cabinet member for finance and resources added: “Our commitment is to support our town centre shops and businesses. That's why we have cut season ticket prices and reduced a range of other car park charges across Cornwall. We are grateful to the government for agreeing to underwrite the costs of this scheme and I hope it will help to keep Cornwall's town centres vibrant and attractive to local residents and visitors alike.”
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