Bath MP Don Foster has revealed that small businesses within Bath and North East Somerset are currently missing out on over £1million of small business rate relief. 

Although in Bath and North East Somerset the take-up of the relief is substantially higher than the national average, over 1000 eligible small businesses across the authority are not claiming money they are entitled to.  Any unclaimed money goes back to the Chancellor.

Don said, that he was delighted that the take up of small business rate relief is substantially higher here than the national average. He noted that the Council does a great deal to encourage businesses to claim this relief. However, in the current financial climate, Don has urged all small business to check whether or not they are missing out on this help to cut their costs.

 An independent small business with a rateable value of £5,000 or under is likely to be entitled to have 50% of their business rates refunded.  Many small businesses are able to claim back over £1000 a year. Even business with rateable values between £5,000 and £10,000 can get some help.  Small businesses, such our independent shops on Moorland Road, are an important part of any local economy, and here in Bath we are lucky to have such a high number of independent businesses, they add to the unique flavour of the city.

It is vital that we help our small businesses through the economic downturn, and we want to make sure that they are taking up all the opportunities available to them.  This is why we want to heighten the awareness of this relief and make sure the remaining 30% of eligible businesses start claiming it.