BUSINESS RATES NEWS – NICE AND NASTY
The Autumn budget statement highlighted a couple of nice items for rate payers and which were highlighted by the Chancellor in his statement as follows:-
Small Business Rates Relief will remain at double its normal rate for another year commencing 1st April 2015.
Retail Relief will be granted for another year commencing 1st April 2015.
On the other side, it also included a really nasty change which was well hiddden in the small print, but which will mean that
Business which have not yet checked and appealed their exisiting Ratable Value and which do not make an Appeal before 1st April 2015 will now lose their rights to have any resultant savings backdated to 1st April 2010.
Due to this change, any Appeals made after 1st April 2015 will now only produce savings back to 1st April 2015 – potentially costing the rate payer a lot of money!
If you have not yet appealed your 2010 Rateable Value amd/or require more details re any of the above please contact Paul Knighton, our Rating Director, on 01543 414300.