New 2018 Business Rates Hardship Fund
Lambeth Council have launched a new business rates hardship fund for businesses who experienced an increase in their business rates following the 2017 revaluation. This is a new round of funding for 2018 and businesses in Clapham are encouraged to reapply.
The Chancellor announced in the Spring Budget that additional funding would be made available to Local Authorities to assist businesses who are experiencing hardship due to the Revaluation effective 1 April 2017.
There are regulations regarding who can receive funding and all councils were tasked with creating and delivering their own scheme. Please see the attached local relief scheme and criteria and if you think you meet the criteria, please complete the application form and include the requested supporting documentation.
A number of Clapham BID members applied in 2017 and 2018 and were successful in receiving substantial business rate rebates from Lambeth Council . However, the fund is only available until March 2019 and it’s advised that businesses apply as soon as possible, while the fund is still available.
This is Clapham BID Manager Jeremy Keates states – “I cannot stress to our members enough the benefits of applying for this fund. Whilst many will be experiencing significant rate rises, this does provide some financial relief. If you need any advice or support in completing the form, please contact the Clapham BID.”