Autumn Statement Falls Short on Business Rates
Rod Edwards, Head of Rating at Eddisons, says the business rates measures announced by Chancellor George Osborne today in the Autumn Statement are very welcome but don’t go nearly far enough.
“It’s good to see the Chancellor provide help to smaller businesses by increasing the rates relief for retailers to £1,500 next year. But he needs to understand that not all billing authorities are making it easy for retailers to claim this discount.
While some local authorities are automatically granting the relief, others have demanded such detailed information in their application form that it has become virtually impossible for retailers to obtain the deduction. Retailers are faced with a very uneven playing field in accessing this rates relief.
“Extending the small business rates relief to those with a rateable value of less than £6,000 is also a positive move. But the Chancellor should have taken the far bolder step of exempting all ratepayers with an RV of under £12,000. This would have provided a major boost to more than a million small businesses without a massive corresponding decrease in revenue to the Exchequer.
The Chancellor has missed an opportunity to make a genuine difference to the livelihood of many small businesses.”
Written by: Richard Roe on Wednesday 03/12/2014