300,000 Small Businesses to Pay No Rates for 12 Months

More than 300,000 small firms won’t pay business rates until September 2012, new government figures have revealed. Under the Small Business Rate Relief (SBRR), firms with a rateable value of up to £6,000 will pay no rates until next September, while businesses with a rateable value of up to £12,000 will be eligible for a tapering level of relief. Areas with high numbers of independent shops and businesses are most likely to benefit from the relief, the government statistics found — more than 10,000 businesses in Cornwall, nearly 6,000 in Bradford and 4,400 in Sheffield have received the discount. The SBRR scheme was first launched last autumn to help small businesses get back on their feet following the recession. Rates are estimated to be the third-biggest outgoing... »