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Croydon Council calls on businesses to take advantage of tax relief scheme

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RENEWED calls are being made by Croydon Council to the borough's small and medium-sized businesses to take advantage of its business rate relief scheme.

The £1.14m scheme, funded from the Mayor of London's £23m regeneration funding for Croydon, allows eligible companies to get discounts of up to 65 per cent in the first year

The scheme is open to businesses moving into premises in Croydon town centre with an annual rateable value of £25,500 or above.

The discount lasts for a period of up two years.

The initiative aims to encourage businesses that are expanding and struggling to find affordable commercial spaces to relocate to the centre of Croydon, where good quality offices and retail premises are available.

Councillor Vidhi Mohan, the council's cabinet member for economic development, said: "I would encourage businesses who believe they are eligible for a reduction in the rates to contact us.

"Not only will this scheme enable growing businesses to save thousands of pounds, but it will create jobs, fill empty commercial space and put money into the economic growth of the whole borough".

Businesses wanting to find out more should contact the council at economy@croydon.gov.uk


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