- Napthens Podcast
- Media Relations
- Newsletters & Updates
- Legal Glossary
Changes to business rates
Napthens - April 3rd 2014
A number of changes to business rates took effect on 1 April. The changes are summarised as follows and could result in significant savings for many operators:
- A £1,000 business rate discount will apply to pubs, restaurants, local shops and cafes, which have a rateable value below £50,000 for two years, up to the state aid limits
- A 2% cap on business rate inflation increase
- Businesses will be allowed to pay their bills over 12 instalments instead of 10.
- A 50% business rates relief for 18 months (between 1 April 2014 and 31 March 2016) for businesses that move into retail premises that have been empty for twelve months or more.
- The doubling of the Small Business Rate Relief will be extended for a further twelve months until 31 March 2015.