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Commercial Property News
Small businesses welcome Budget rate relief
The inclusion of business rate relief in yesterday's (March 24th's) Budget has been welcomed by industry groups.
Alistair Darling announced firms that have a rateable value of up to £6,000 per year will see their commercial properties excluded from the levy for 12 months, something that will give a boost to a number of small firms.
Director-general of the British Retail Consortium Stephen Robertson said the move "is useful assistance for the smallest shops", while his counterpart at the Confederation of British Industry Richard Lambert described it as "a helpful step".
However, Mr Robertson added the decision "makes no difference" to retailers and other businesses that are already established in the market.
Noting that retailers already contribute 25% to the £24 billion raised each year through the rates, he called on more to be done to make the levy more affordable for all retailers that own or rent business property.
Alistair Darling announced firms that have a rateable value of up to £6,000 per year will see their commercial properties excluded from the levy for 12 months, something that will give a boost to a number of small firms.
Director-general of the British Retail Consortium Stephen Robertson said the move "is useful assistance for the smallest shops", while his counterpart at the Confederation of British Industry Richard Lambert described it as "a helpful step".
However, Mr Robertson added the decision "makes no difference" to retailers and other businesses that are already established in the market.
Noting that retailers already contribute 25% to the £24 billion raised each year through the rates, he called on more to be done to make the levy more affordable for all retailers that own or rent business property.
Thu, 25th Mar 2010