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New Business Rates

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Not sure if this for Off Topic but anywhere here it goes.

I understand the Chancellor has lifted the rates relief for small business from £6000 to £15000. Does anyone know when this comes into effect?

The reason I ask is that I am looking at a new business premises rateable value £10,000.

I would normally have had a rate bill on this property after various reliefs of circa £2500.

I am now thinking that this will disappear.

I called the council ( Cornwall) who said " we know nothing"

Does anyone know any more .........................

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From April 2017 I think


15. Cutting business rates for all rate payers

From April 2017, small businesses that occupy property with a rateable value of £12,000 or less will pay no business rates.

Currently, this 100% relief is available if you’re a business that occupies a property (e.g. a shop or office) with a value of £6,000 or less.

There will be a tapered rate of relief on properties worth up to £15,000. This means that 600,000 businesses will pay no rates.

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Thanks Sarah

So 12 months to wait!!

I should go ahead now. One year of paying then blessed relief.

If you wait, the landlords may have moved prices up to take advantage of their share (ballpark 100%) of the saving.

On the plus side, I wonder if this could halt the takeover of our high streets by charity shops?

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Hi Porky

Yes I was thinking I will go for it as like you say Landlords will increase rents for sure to rake in some extra cash

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