COUNCIL’S CABINET AGREES BUSINESS RATES REOCCUPATION RELEIF FOR THE EAST RIDING
East Riding of Yorkshire Council Cabinet has agreed to adopt the government’s scheme for Business Rates Reoccupation Relief in the East Riding.
The discretionary scheme is funded by central government, and offers a discount on business rates when previously empty retail properties are reoccupied.
The government announced this scheme in the Autumn Statement, and has now provided guidance on its implementation to local authorities. The aim is to encourage the re-use of retail premises that have previously been empty for 12 months or more.
The Relief is a 50% discount from business rates when the previously empty retail properties are reoccupied, and will last for 18 months from when the reoccupation takes place, as long as it is between 1 April 2014 and 31 March 2016.