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November 25, 2010

FSB welcome automatic rate relief for small firms

The Federation of Small Businesses (FSB) has welcomed the government’s pledge to help make small business rate relief automatic.

Following proposals announced in the emergency Budget earlier this year, small firms with rateable values of up to £12,000 will double their normal discount for a year, while those with rateable values of up to £6,000 will receive 100 per cent rate relief.

Business rates are the third largest cost to many small firms and many are unaware they are entitled to the relief.

John Walker, national chairman of the FSB says: “After rent and wages, rates are the biggest cost to many businesses and steps to help small firms automatically get the relief they are entitled to is welcome news. We have long been calling for small business rate relief to be made automatic and this cash injection will be of great help to many small businesses.”

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