Rates Relief save
small businesses pounds
Sector: Local Government
Date Created: Wed 2nd Apr 2008,
13:38:52
Source: West Norfolk Council
Link: www.west-norfolk.gov.uk/ UK - Could your business be losing out on hundreds of pounds? The
Borough Council of King's Lynn & West Norfolk has urged owners
of small businesses to check if they qualify for valuable Business
Rates Relief.
During 2008/09 some 2,373 small businesses in West Norfolk are set to pocket
savings totalling £861,144. ”Business rates often account for a large
portion of the overall expenditure of a small business so rates relief can make
a huge difference to individuals and we’re keen that small businesses take
full advantage of it”.
“Small businesses are an integral part of town and village communities.
They make a significant contribution to local economies adding diversity and
choice for shoppers and often play a fundamental role in developing thriving
rural locations,” commented Leader of the Borough Council of King's Lynn & West
Norfolk Cllr Nick Daubney.
Sole businesses with a rateable value of £5,000 or less are entitled to
a 50% reduction in their business rates whilst sole businesses with a rateable
value between £5,001 and £10,000 will have their relief calculated
on a tapering scale ranging from 50% -0%. Even sole businesses with rateable
values between £10,001 and £15,000 can apply to pay a lower business
rate multiplier of 45.8 pence this year.
"All businesses need do is complete a two page application form, which can
be done online. To get the most from this rate relief businesses should apply
without delay in order to benefit from on-going savings,” explained Gareth
Evans, Head of Revenues and Customer Service. |
