Firms welcome 30 per cent rate cuts

As part of the Government’s long-term economic plan, the biggest package of business rate support in more than 20 years came into force last week to help high streets.

Many businesses already get a 100 per cent discount as a result of existing Government policy.

The tax changes, which came into effect at the start of the new tax year, mean nearly 300,000 eligible small shops in England will benefit.

In some cases, this could give a typical small shop, pub or restaurant, with a rateable value of £10,000, savings of 30 per cent extra or more when compared to last year’s business rate bill.

Estimates published by the Government show around 1,000 businesses throughout Kirklees are eligible for the new retail discount, which aims to support smaller traders on the high streets.

Communities Secretary Eric Pickles said: “A key part of the Government’s long-term economic plan is to back business with lower taxes.

“Small shops are the lifeblood of local economies, and today’s changes will mean a massive boost to our town centres – helping to create more jobs and securing a better future for our children.

“A whole string of changes to business rates have kicked in, bringing new support to local shops, pubs and firms. In some cases shopkeepers could see their bills cut by a third.”

The chairman of the Institute of Directors in Yorkshire, Peter Holmes, said: “The extension of Business Rate Relief which comes into force is welcome, offering many small businesses, new enterprises, start-ups and therefore employers support as they grow.”