Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

Patfig

New Business Rates

Recommended Posts

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 .........................

Share this post


Link to post
Share on other sites

From April 2017 I think

yup
https://www.gov.uk/government/news/budget-2016-some-of-the-things-weve-announced

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.

Share this post


Link to post
Share on other sites

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?

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   26 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.