rate relief

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Small firms benefit from Rate-Relief

More than 10,000 small businesses in Wales will benefit from a £7 million package of additional rate relief announced by the Welsh Assembly Government. The Welsh Assembly Government’s local government minister Dr Brian Gibbons said that the package is a result of its commitment to increase the number of smaller businesses benefiting from the small–business rate–relief scheme introduced last year. The extension of relief will save money for approximately 10,600 businesses. Since April 2007, businesses with a rateable value of £2,000 or less have received 50% relief on their rates bills, while those with a value of between £2,001 and £5,000 have received 25% relief. Businesses eligible for rate relief are required to contact their local authority, wh... »

Rates Relief

Demands for Automatic Rate Relief

The Federation of Small Businesses (FSB) has written to the Prime Minister demanding that firms automatically receive small business rate relief Since December 2005, small businesses in England and Wales have been entitled to claim up to 50% rate relief from their local authority, if the rateable value of their premises is less than £15,000 (£21,500 in London). The relief is paid for by a premium charged on the business rate for larger firms. Research suggests, however, that hundreds of millions of pounds of rate relief is going unclaimed. A 2006 report by the Local Government Association, for example, found that £400 million in rate relief was unclaimed in England each year. The Government attempted to simplify the claims system in 2007, but a February 2008 survey by the... »