Business Rate Supplements Bill

Small firms should have a say

The Federation of Small Businesses (FSB) has called on the government to allow small firms to have a say over the proposed Business Rate Supplements Bill.
The Bill will impose an extra tax burden on businesses, and the FSB is seeking a number of amendments to ensure that the supplement will only be spent on economic development.

As well as calling for businesses to be consulted and have a vote on all supplements the FSB propose that properties liable for business rates with a rateable value of £50,000 or less be exempt and that the £50,000 threshold is reconsidered once the property market improves.

“With small business failures entering their hundreds each day and taking thousands of jobs with them, it seems counter productive to introduce a new tax,” said John Wright, chairman of the FSB.

“However, if business owners are to pay this supplement it is important that they have a say on where it goes. This revenue must be ring-fenced for economic development rather than to shore up government infrastructure projects and local council budgets.”
The articles featured in this digital magazine are for your general information and use only and are not intended to address your particular requirements. They should not be relied upon in their entirety. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. For more information please visit www.goldminepublishing.com