Over £1m Business Rate Relief scheme for West Oxfordshire retailers
The go ahead has been given for a Government-funded scheme that will provide more than £1m in Business Rate Relief to West Oxfordshire retailers over the next two years.
West Oxfordshire District Council’s Cabinet has today (12 March) agreed to implement the Government scheme to provide up to £1,000 of annual rate relief during 2014-15 and 2015-16 to businesses occupying retail properties with a rateable value of £50,000 or less.
There are 760 retailers in West Oxfordshire that could benefit and the total amount of relief provided could reach more than £1m in the two-year period.
A wide range of retailers, from shops to cafés, pubs and restaurants, will be among those qualifying for the relief.
The Council will be writing to eligible retail premises over the next few weeks inviting them to take up the rate relief offer.
Cllr Simon Hoare, Cabinet Member for Resources, said: “The national rate relief scheme is welcome news for retailers and will support many of the small and independent businesses that are at the heart of our local towns and communities.
“West Oxfordshire has, fortunately, fared well during the recent recession and we continue to have very few empty retail units. Our Council is proud to support the local economy with policies such as free car parking and working with retailers to offer help and advice to ensure that West Oxfordshire continues to prosper.
“However, it is thanks to their own hard work and determination that local retailers have got through the recent tough times and we hope this scheme will give their business a boost, freeing up some funds to help them realise new opportunities, as the economy starts to pick up.”
Further information about business rates and business support provided by the Council can be found at www.westoxon.gov.uk/business. Alternatively, call 01993 861000
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