Looking for something specific?

Business rates: some extra help available to soften the blow of revaluation

post-image

31st March 2017

South Bank BID has campaigned against the Government’s plan to introduce steep rises in business rates, which kick in tomorrow.  The neighbourhood will see some of the steepest rises in London, as both Lambeth and Southwark have been hit hard by the impact of the 2017 Revaluation.

In his recent budget, the Chancellor agreed to soften the blow of these rises through a package of support. He also committed to look at the overhaul of a tax system that we believe is increasingly out of step with the London economy and business realities.

As a result, both Lambeth and Southwark councils are set to receive additional funding to support businesses facing rates rises in 2017/18 – in Lambeth’s case around £3m. This is a relatively small amount compared to the total increase in the business rates bill across both boroughs. But, if well-targeted, it could help to keep key South Bank businesses operating and contributing to the overall vibrancy of the neighbourhood.

Central Government is currently consulting with local authorities on how this “Hardship Fund” will work, before it finally decides on how the money will be distributed nationally. The consultation period ends on 7 April, and we understand that a final plan will be in place by mid-May.

Both councils are considering different options of how a scheme can best support local businesses.  We would encourage those South Bank BID members that are facing steep rises in their business rates to register their interest in discretionary support.  Lambeth has provided an on-line form to do this, click here

We are emphasising to both councils the importance of South Bank’s businesses, their value to Lambeth and Southwark, and the vital contribution they make to London’s economy. 

As always, we are ready to help any South Bank BID member in understanding the impact of the rises in business rates, and to ensure that the BID continues to deliver important services that offer real value to our business community.  Do get in touch – you can contact us at:  BID@southbanklondon.com

Subscribe to
the newsletter

...

Download all
our newsletters

Click here to view
the archive

...

Featured Offers
& Promotions

...

STAR Card for Offers in South Bank and Waterloo

STAR Card – £5 Gin & Tonic at Gillray’s, London Marriott Hotel, County Hall

STAR Card London Offer at South Bank’s Giraffe Restaurant

Happy Hour at Caffe Vergnano 1882

Miss Nightingale: Exclusive Discount

Carnival Kitsch

Valentine’s Day Decadence with Hotel Chocolat

Half Price Wine at the Archduke and Black and Blue Waterloo

Chinese New Year at Ping Pong Dim Sum

Veganuary at Las Iguanas South Bank

Lazy Sumdays at Ping Pong

Dance Before Christmas

Locale: 15% Off at All Times

Unlimited Bubbles at Skylon

Autumn Offers at Slug and Lettuce

Autumn Comforts by Hotel Chocolat

YO! Sushi

Fancy Some Summer Sizzle?

It’s Time to Chill!

Eye-Popping Days out!

Graduating? Celebrate With Bubbles!

Love Your Skin this Summer at Kiehl’s

Happy hour(s) at Ping Pong

Lunch With Unlimited Bubbles at Skylon

Oh My Cod! 10% off

Tortilla Tuesday is back!

Win: Half Price and Free Bumper Cars at Namco!

Kiehl’s Flash Sale!

Local Discount: Riverfront Bar & Kitchen

Say No to Socks with Las Iguanas!

Ping Pong: Pre Theatre Menu

Canteen: June Offer!

Las Iguanas: Kids Eat FREE

Namco Funscape

Kiehl’s: Free Skin Checks

Canteen: May Offer

Sports Bar & Grill

Pick and Mix Lunch at Ping Pong

Primo Bar: Soothe Your Ears

Brasserie Joel Bellinis

Spend Some Time at Gillray’s For Less

20% off the A La Carte Menu hmm?

Tortilla Tuesday at Las Iguanas!

Tortillas, maybe even tequilas

Riverfront Bar & Kitchen Burger Night

Burger Night

Doddle

20% off Doddle Waterloo Membership

Giraffe

Kids main & selected drink for just £5.65

J-Me at OXO Tower Wharf

10% Discount on j-me Products

Mondrian London

Enjoy an overnight stay, roast dinner and breakfast for two for just £195.

London Marriott Hotel County Hall

Free gift with any spa treatment

Contact our
Public Realm

...

View the Local
Business Directory

...