In March 2011, the UK Government established 4 areas within the United Kingdom to give their special support to and called them “Enterprise Zones”. One of these Enterprise Zones was given the name of “Mersey Waters” which includes Peel’s flagship projects Wirral Waters and Liverpool Waters and the Peel International Trade Centre.
There are many specific and exclusive benefits deriving from this, some of which are:
- Potentially 100% business rates discount for five years. This means that each business that qualifies will receive discounts for five years from the start of its occupancy in the Zone, providing it enters the Zone by April 2015 subject to a maximum cap of £275,000. This cap would typically be reached if an occupier took 1,000 square metres (10,000 square feet) of floor space.
- A Simplified and improved planning regime replaces the old legislation which means more flexibility in terms of changes of use of floor space within the entire Peel ITC complex.
- The Government will support the provision of superfast broadband in these zones which is in addition to the £13 million investment by Wirral Government to improve existing Broadband facility.
Rate Relief for Mersey Waters Enterprise Zone
The Enterprise Zone extends from Liverpool to the Wirral.
The city council has discretion to help businesses moving into the Enterprise Zone in the form of business rate relief for a five year period up to State Aid De Minimis levels to businesses that are in the zone between 1 April 2012 and 31 March 2015.
Under EC regulations this is equivalent to €200,000 in a rolling three year period (or £55,000 per year over a rolling three year period). Any relief rewarded will show as a reduction on the business rates bill issued. Find out more.
Who can apply?
Consideration for this relief will be given to:
· Businesses moving into the Enterprise Zone on or after 1 April 2012.
· Existing businesses expanding in the Enterprise Zone to create additional jobs, demonstrate growth and is in support with the aims and objectives of the Enterprise Zone.
Applicants must comply with the strict guidelines defined by the regulations and we will require you to provide detailed information and make a formal declaration as part of the claim process before any relief is awarded.
How to apply
If you require further advice contact Tony O'Neil, Head of Business Growth at Liverpool Vision on 0151 600 2900.
If you are applying for rate relief in the Wirral area, please contact Alan Evans on 0151 691 8426.