Introducing the Back in Business rate support scheme, a fantastic opportunity for businesses to receive a 50% rates discount for up to two years when occupying a vacant retail unit. This scheme aims to support businesses in revitalising previously empty retail spaces and boosting economic activity.
To qualify for this beneficial scheme, businesses need to meet specific eligibility criteria. Firstly, the occupation of business premises must have commenced on or after 1 April 2024. Additionally, the premises must have been vacant for a minimum of 12 months before the occupation date. The premises should have been previously valued for rates and used for retail purposes, or if unoccupied, they should have the potential for retail use.
The concept of “retail purposes” under this scheme refers to the retail provision of goods or services to the public visiting the property. This definition ensures that businesses engaging in retail activities can benefit from this support initiative.
Under this scheme, businesses can enjoy a 50% rates discount for a duration of 24 months, starting from the day the retail unit is occupied. The rate relief can be availed from 1 April 2024, providing businesses with a significant financial advantage as they establish themselves in previously vacant retail spaces. This initiative not only benefits individual businesses but also contributes to the overall economic growth and vibrancy of the local business environment.
The scheme is open to applications until Monday 31 March 2025.
To apply, you need to complete an online form. If you are the owner or occupier of the applicant business premises, you can complete this by clicking here
Further information:
Contact:
0300 200 7801