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Julie Meyer
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Brian Hay

More small firms and shops benefitting from tax cuts

More shops and small firms are benefitting from tax cuts to help them with their business rates, new research has revealed.

The figures show that the level of small business rate relief has trebled since the general election as a result of various Government initiatives.

Rate relief in England has gone from £333 million in 2009 to 2010, to £507 million in 2010 to 2011, to £784 million in 2011 to 2012 and now to £900 million in 2012 to 2013.

The Government doubled small business rate relief from October 2010 until April 2014, to help an estimated half a million small firms and shops.

Small firms are receiving 100 per cent rate relief, so are not paying any business rates at all, on properties with a rateable value of £6,000 and a tapered rate relief from £6,000 to £12,000.

Eric Pickles, secretary of state for communities and Local Government, described small shops and firms as the heart of local communities.

He added, “These figures show clearly that this Government’s policy of cutting both taxes and red tape for small firms supports local traders and entrepreneurs across the country.”

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