Arun District Council has recorded its highest ever collection of business rates, receiving 99.36 per cent for the 2015/16 financial year.
The Council collects nearly £36million per annum in business rates and this year’s figures are an increase of 0.41 per cent compared with 2014/15.
Business rates are a yearly statutory charge on non-residential properties based on the annual rent the premises would obtain on the open market, and are reviewed by the Valuation Office (a government agency) from time to time.
Councillor Dudley Wensley, Deputy Leader of Arun District Council and Cabinet Member for Corporate Governance, said: “This is fantastic news; I would like to congratulate the Council’s Revenues and Benefits Department for achieving such a high percentage of business rate collection and the businesses in Arun who have fulfilled their commitment to payment.
“These numbers demonstrate the economy here in Arun is now in better shape following the economic difficulties the country has had to encounter over recent years which is very pleasing indeed.”
Arun has supported businesses by allowing them to pay their business rates over 12 months instead of ten through the statutory instalments scheme.
It is hoped that over the next year, the Council will make it even easier for businesses to pay their rates with the introduction of e billing meaning bills will be issued and can be paid electronically.
Miriam Nicholls, Business Development Manager at Arun District Council, said: “The feedback from many local businesses is positive. There are signs of growth amongst local companies with many more taking on new contracts and needing more staff.
“The Council wishes to encourage growth in the business community and has in place a range of support for new companies to help them succeed and assistance for existing businesses to help them expand.”
For more information on business rates please visit the business rates page.
If you have a business idea but need help with turning it into a fully-fledged company or you are an existing business that requires some support please contact Miriam Nicholls, Business Development Manager on 01903 737845 or Miriam.Nicholls@arun.gov.uk.