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2010-11-26 : Government to automatically apply the small business rate to all eligible businesses
The Local Government Secretary, Eric Pickles, has proposed that the Small Business Rate, currently the Uniform Business Rate of 0.407 pence, will automatically be applied to all eligible premises in England.
Firms with multiple premises rated less than £18,000 will benefit from this change as the single premise requirement under the existing scheme is to go. It has been estimated that as many as 500,000 firms could benefit.
However, the Government's pledge to make the automation of Small Business Rates Relief (SBRR) more practical has not been fulfilled. Firms will still have to apply for the SBRR, which is available for premises with a rateable value of less than £12,000, but the legal requirement that firms have to apply using a form is to be scrapped.
The Federation of Small Businesses has welcomed this Government pledge, as after rent and wages, business rates are the biggest cost to many firms.
Mr Pickles also confirmed that in the same imminent Localism Bill, local authorities will be allowed to set self-funded local discounts to rates bills, in an effort to stimulate business growth.
Ruddle Merz have successfully helped many clients claim for Small Business Rate Relief.
Take advantage of our free business rate review, call 0800 883 0353 or email enquiries@ruddlemerz.co.uk.
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