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<p>The Chancellor of the Exchequer announced at the 2014 Autumn Statement an extra
£650 million of support for 2015-16 business rate bills, bringing the total support
of 2013 and 2014 Autumn Statement polices to £1.4 billion. This help includes:</p><p>
</p><ul><li>doubling small business rate relief for a further year. In England, this
means an estimated 400,000 properties will pay no rates at all, while a further 200,000
properties will benefit from tapered relief;</li><li>a 2% cap on the increase of the
small business rates multiplier. This is a continuation of the 2% cap introduced in
2014-15 as part of Autumn Statement 2013 measures;</li><li>increasing the temporary
discount for shops, pubs and restaurants with rateable values below £50,000 from £1,000
to £1,500 for 2015-16, benefitting an estimated 200,000 properties in England; and</li><li>extending
the existing transitional relief scheme for two years for properties with a rateable
value up to and including £50,000.</li></ul><p> </p><p>These measures are in addition
to previous Autumn Statement measures that continue into 2015-16, including:</p><p>
</p><ul><li>a 50 per cent discount for 18 months to new occupants of vacant shops;</li><li>allowing
businesses to keep their small business rate relief for a year where they take on
an additional property;</li><li>business rates relief for empty new builds; and</li><li>allowing
businesses to pay their business rate bills over 12 months, in order to assist with
their cash flow.</li></ul><p> </p><p>Central Government also now funds 50% of any
additional local discounts granted.</p><p> </p><p>The Department does not collect
data on a constituency basis, but Hendon constituency lies entirely within the boundary
of the London Borough of Barnet. Table 1 attached shows the estimated number of properties
in 2015-16 within the boundary of the London Borough of Barnet that benefit from business
rates measures extended in this year’s Autumn Statement.</p>
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