News
Reduce business rates for small companies
13 July, 2009
It has recently been suggested that business rates should be reduced for small and medium-sized enterprises.
Smallbusiness.co.uk reported that problems caused due to the economic climate meant that any increase in building tariffs could cause major problems for some operators. A spokesperson for the website explained that if the burden of higher rates should fall anywhere at all, it only seemed fair that it should be on the larger companies who have more scope to absorb the costs.
These comments were made as the Government announced plans for a GBP two billion fund which could support firms whose bills will go up as a result of a five-yearly revaluation of commercial property.
The scheme would be paid for by the redistribution of monies collected from business rates, meaning central office would not collect any extra revenue as result of the 2010 increases.
While some businesses will see their rate rise, approximately 60% will see theirs fall.