Business Rates Update…
Mark Keirl, Head of Business Rates and Director Roger Hannah & Co provides an overview to 2017 budget:
- Those who no longer qualify for small business rates relief will benefit from a cap of £600
- Pubs with rateable values less of £100,000 will qualify for a £1,000 discount
- A fund of £300m has been set up to help local authorities grant relief for those suffering from Hardship.
- Everyone who wants to appeal their rating assessment as the Chancellor has completely ignored industry calls to stop the proposed changes to the appeal system. The changes proposed will make it almost impossible to reduce an incorrect assessment.
- Big businesses with RV in excess of £100,000 face an overnight increase of 42% in rates payable.
- All Local Authority Schools (LAS) pay full rates, yet Free Schools get 80% relief, surely this inconsistency cannot be right when LAS are facing large budget shortfalls.