Scilly’s Businesses To Share In Rate Reductions

town hall windows signSome high profile Scilly businesses will make a saving next year as the Council rolls out government business rate cuts.

The islands’ Council will have its share of Whitehall’s £1.1 billion business rate cut.

Nearly all small shops and restaurants with a rateable value below £50,000 will have their bill reduced by £1,000.

The Bishop and Wolf, Turks Head, Old Town Inn and Seven Stones Inn will all be in line for the saving, along with most small cafes.

Ratepayers will see an increase of 2% instead of the planned 3.2% and they will be able to spread payments over 12 months instead of 10.

A 50% reduction in rates for small businesses will continue for a further year and that’s equivalent to £300,000 for the Islands’ business sector.

Head of Finance Iain McCulloch says the Council won’t be left out of pocket from the reduced rates.

He says the government has guaranteed that they’ll meet all the costs of the discounts.

And you don’t need to apply for the reductions – they’ll be built into next year’s bills.