Business Rates changes announced in the Budget
Discussion
Isn’t the only change that they are cutting retail outlet rates by a third from April next year where the rateable value is less than £51k.
Above that stays at 50p in the pound and small business relief stays meaning if you haven’t paid this year you won’t until at least the next budget.
It’s the local council who will bill you anyway so you could always ask them direct.
Above that stays at 50p in the pound and small business relief stays meaning if you haven’t paid this year you won’t until at least the next budget.
It’s the local council who will bill you anyway so you could always ask them direct.
More information can be found at https://www.gov.uk/government/publications/busines...
The retail relief is subject to EU rules on grant aid and will give a third off rate bills for retail shops, cafes and drinking establishments where the RV is less than £51,000
The retail relief is subject to EU rules on grant aid and will give a third off rate bills for retail shops, cafes and drinking establishments where the RV is less than £51,000
Just a quick heads up for any of you that think you should benefit from this.
I work in this area and the software houses way of applying the relief looks to be based on the RV (thats ok) and the VO description.
Problem with that is its not always updated correctly following a change of use or re-furb.
So if your shop was a Betting shop (not covered) and you took on the lease and changed it to Aunt Mildreds antiques you would not get the relief if the VO had not changed the description from Vetting Shop & premises to Shop & Premises.
We have been told that we are expected to apply the new relief before 19/20 bills are issued which is a big ask.
One reason is this new relief has to be done after all other reliefs/discounts are applied.
I work in this area and the software houses way of applying the relief looks to be based on the RV (thats ok) and the VO description.
Problem with that is its not always updated correctly following a change of use or re-furb.
So if your shop was a Betting shop (not covered) and you took on the lease and changed it to Aunt Mildreds antiques you would not get the relief if the VO had not changed the description from Vetting Shop & premises to Shop & Premises.
We have been told that we are expected to apply the new relief before 19/20 bills are issued which is a big ask.
One reason is this new relief has to be done after all other reliefs/discounts are applied.
Gassing Station | Business | Top of Page | What's New | My Stuff