Member Article

20k shops and pubs in Yorkshire could get third off tax bill says government

The biggest package of business rate support in over 20 years to help high streets goes live today, Communities Secretary Eric Pickles announced as £1 billion support for high streets and local firms kicks in.

Many businesses already get 100% discount as a result of Government policy.

Estimates published for the first time today reveal where the shops eligible for the new £1,000 retail discount are located.

They show an estimated 2,400 in Bradford; 3,000 in Leeds; 1,170 in Hull, 1,260 in York and 1,000 in Sheffield are now set to benefit, as well as shops and pubs in small rural and suburban communities.

The tax changes that come into effect at the start of the new tax year mean more than 20,000 eligible small shops in Yorkshire and the Humber region will benefit further, out of an estimated 300,000 in England.

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

In addition to the new business rate discounts, specially targeted to support small shops, all businesses can now choose to spread their bill payments over 12 monthly installments rather than ten after rules were changed to give businesses greater control over their cash flow.

Mr Pickles said that today’s new measures would make a huge difference for struggling small shop owners and help businesses and high streets across the country build a stronger economy.

This was posted in Bdaily's Members' News section by Clare Burnett .