Town Centre Business Rates Incentive Scheme

Business Rates discounts are available to businesses and other organisations that occupy empty premises in the Brackley and Towcester Town Centre Business Rates Incentive Scheme designated areas, subject to them satisfying specific criteria.  Business Rates discounts are applicable from 1 April 2017.

Qualifying businesses are entitled to a Business Rates Incentive of 50% of the annual business rates liability after all other reliefs and exemptions for a period of up to two years until 31 March 2019.

The period of incentive is up to a maximum of the first two years liability for occupied business rates.

Is my business eligible?

The discount is applicable to business rates bills for properties in the Brackley or Towcester Town Centre designated areas as defined in the West Northants Joint Core Strategy.

The property must have a 2017 Rating List rateable value of between £15,000 and £50,000.

The property must have been unoccupied for at least a 6 continuous months before an application can be made.

Certain types of business are excluded from the scheme including charity shops, pawnbrokers, pound shops, adult shops, betting shops and pay day loan shops.

What is the value of the Business Rates Incentive available?

The state aid de minimis level is €200,000 over any three-year rolling period.  This is converted to GBP using EU conversion rates at the date of application and is roughly £165,000 over a rolling three-year period although the conversion rate does fluctuate from month to month.

It is important to note that any business already benefiting from state aid in other areas will need to declare these when applying.