smaill businesses

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... »