Friday, July 31, 2009
Government business rate too little too late, says RMIF
'Motor retailers will gain little from the Government's three per cent business rate deferment scheme, when many are facing real-terms increases of up to 30 per cent on their rates, ' according to Sue Robinson, Director of the Retail Motor Industry Federation (RMIF), commenting on a new Government support scheme for business.
The scheme, going live from today (Friday 31 July 2009), enables all business ratepayers to apply to their local council to put off three per cent of their whole year's 2009/2010 business rates bill. Also, those who accrued a rise in their bill because transitional relief has come to an end can now defer 60 per cent of the increase.
Robinson continues: 'The deferment is too small to soften the blow for businesses struggling in the face of prevailing economic conditions.
'Many are actually facing large increases in their rate bills. Following the 2005 rate revaluation many businesses benefited from four years of transitional relief, but this has now to come to an end. For some it means a business rate increase of up to 30 per cent.
Robinson adds: 'Additionally, the new deferment scheme is only for two years, and although the new regulations are due to take effect from today, local authorities are still not clear how they will work.
Information for this scheme including a one page application form has been sent to every ratepayer in England by their local council.
DATED: 31.07.09
FEED: AW
