Skegness Magazine

3000 BUSINESS ratepayers in East Lindsey are saving up to 50% on their business rates, but there are fears another 1000 businesses could be missing out.
East Lindsey District Council, in partnership with the Federation of Small Businesses (FSB), is urging small businesses to see if they qualify for a reduction in their businesses rates.
Since the recession kicked in, East Lindsey District Council has seen a dramatic increase in the number of businesses applying for small business rate relief and it is trying to ensure that everyone entitled to a reduction, gets one.
The Leader of East Lindsey District Council, Councillor Doreen Stephenson, said it is important that the Council does all it can to support businesses: “Business rates can be a heavy burden for many businesses, particularly during the current economic climate.  Through partnership working with the FSB we’ve identified that there are potentially 1000 more businesses in our area that are entitled to a reduced business rates bill but that haven’t yet applied.  We must encourage them to come forward as soon as possible to ensure they are not paying too much.”
“The Federation of Small Businesses lobbied hard with the Government to win a rates reduction for small businesses,” said Michael Self, FSB Lincolnshire Regional Organiser. “Unfortunately, if you don’t submit a claim for it, you don’t receive it.  We are now campaigning for Small Business Rates Relief to be made automatic and, until that happens, are calling on all small businesses to claim for it.
“Throughout Lincolnshire, only around 50% of businesses who we think are eligible to receive it, have actually claimed SBRR.
“We are delighted that East Lindsey District Council is leading the way by promoting SBRR to local businesses like this and we hope that all East Lindsey small businesses will make sure that they are getting the Rates Relief to which they are entitled!”
Making an application for a business rates reduction is simple and there is no need to appoint an agent to oversee the application.
If your business fits any of the criteria below, you may qualify for reduced business rates:
· Business ratepayers qualify for a small business rate relief if they occupy just one property in England with a rateable value of less than £10,000
· Some ratepayers might still qualify for relief if they have more than one property, but there is a total rateable value limit of £15,000, and any additional properties must have rateable values less than £2,200.
· Eligible businesses with a rateable value of below £5,000 will get 50% rate relief on their liability.  This decreases on a sliding scale for rateable value over £5,000 up to £10,000.
· For properties between £10,000 and £15,000 there is a ‘buffer’ where the multiplier used for calculating the rates liability will be the small business multiplier instead of the standard multiplier.
To apply for rate relief or for information and advice, ratepayers can contact the District Council’s Business Rates Team on 01507 329412 or email nndr@e-lindsey.gov.uk.
Alternatively a form and guidance notes can be downloaded from http://www.e-lindsey.gov.uk/business/rates/,