Company fails to win rate relief
A STRUGGLING company has had its bid to save £124,774 in business rate relief turned down by Peterborough City Council.
The unnamed firm applied for 100 per cent relief from business rates on the grounds of hardship for the period between September 2009 and March 2011.
The council would have had to pay £31,193.50, with the Government covering the rest.
However, the council said the amount it would lose would represent some 25 per cent of the council’s discretionary rate relief budget and as such it would have an overspend in this year’s budget.
A decision notice published by the council yesterday also stated that the ratepayer had provided “minimim information” to the council to support their application and had been unable to provide any detailed business plans to show how or when it is expected that the business will become profitable.
The notice said: “It is not felt to be in the best interests of the council tax payers within Peterborough to fund a remission of non-domestic rates for this company.”