02:18PM, Thursday 26 March 2020
Businesses across the borough are set to receive rate relief as the government looks to help companies struggling during the coronavirus outbreak.
The government announced a one-year rates holiday for all businesses in the retail, leisure and hospitality sectors. This will come into effect on Wednesday, April 1.
Local authorities usually collect half the rates, with the rest going to the government.
In this, instance, government will reimburse the council’s shortfall.
If you feel that your business should qualify, but do not receive a revised bill by the time your May instalment is due, contact business. email@example.com
A small business grant fund of £10,000 will be available for all companies that were recipients of either Small Business Rate Relief or Rural Rate Relief on Wednesday, March 11.
Additionally, grants funding of £25,000 will be available for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000.
Cllr David Hilton (Con, Ascot and Sunninghill), lead member for finance, called the plans a ‘jolly good idea’, but warned that the coronavirus outbreak will affect the council’s revenue – particularly in areas like car parking.
He said: “This is going to have a negative impact on the council’s finances.
“There are not too many people parking. I am not too sure how we are going to work through this but we are going to have to.
“Every council is in the same place.”
A cross-party coalition of 28 councillors from three different factions has been formed at Wokingham Borough Council.