Member Article

1m business rates bills to decline

Over one million business rate bills will fall next year as a result of revaluation, according to the government.The government have confirmed that they will not collect a penny more of extra revenue as a result of the 2010 revaluation.

Around 60% of business properties will see falls in their rate bills next year and for those paying more, the government is putting in place a £2bn relief scheme self funded by businesses that will limit and phase in increases.

“We believe that it provides a fair and balanced system of transitional relief while at the same time supporting those small businesses who may struggle with an increased rate bill,” said Matthew Goodman from the Forum of Private Business.

This was posted in Bdaily's Members' News section by Ruth Mitchell .