Over 1,000 small businesses and charities in York will benefit from £700,000 in business rate relief over the next few months, thanks to City of York Council.
The Leader of City of York Council, Councillor David Carr, agreed (on 11 December) that no business or charity with a rateable value below £200,000 will have to pay an increase in their business rates in 2017/18.
The decision follows a recent business rates revaluation exercise carried out by Central Government, which saw many businesses facing rates rising 12.5% or more. The decision will mean that £700,000 in government money will be automatically redistributed to businesses across the city, without the need for an application process.
Councillor David Carr, Leader of City of York Council, said: “Adopting this policy in York means that we can support over 1,000 businesses and charities across the city, not only benefiting them, but the wider York economy as well. Applying the relief automatically prevents the need for a time-consuming application process and ensures that no qualifying business or charity misses out.”
York & North Yorkshire Chamber of Commerce President, Bridget Davies, said: “Small businesses are the backbone of the country’s economy and the Chamber welcomes the City of York Council’s initiative to support small businesses and charities in York by freezing their business rates.”
Sarah Armstrong, Chief Executive of York CVS, said: “This is a good news for smaller charities. Any business rate relief will be very welcome. For it to be given automatically without the need to apply is even better.”