Good news for business

By Emily Pearce

Saturday, April 5, 2014

 

BUSINESSES on the Isle of Wight are set to benefit from new business rate relief measures.

Three new discretionary types of business rate relief, announced by the government in December along with a measures to help struggling businesses, look set to be approved at Tuesday’s meeting of the Isle of Wight Council executive.

Shop and cafe owners could claim £1,000 a year, owners of empty new builds could be in line for a temporary 100 per cent rate relief and new occupants of retail properties — where they have been empty for 18 months — could claim a 50 per cent discount.

Council managing director Dave Burbage said: "If approved, this policy should provide valuable help for businesses including shops, restaurants and cafes. The measures are intended to reduce disincentives to constructing new business premises, and to encourage the use of unoccupied premises.

"We hope that through the council taking the lead in identifying the businesses which qualify, via our business rates records, it will ensure these reliefs are awarded without the need for form filling — although we understand clarification may be required in some cases."

For more information, visit www.iwight.com/revsandbens

Reporter: emilyp@iwcpmail.co.uk

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