see all jobs
Government allows business to defer rates payments
Businesses will be able to spread payment of this year’s rise in business rates over the next three years, the government has announced.
Under existing legislation, business rates are adjusted every April in line with the Retail Prices Index for the previous September. However, the inflation rose to 5 per cent last September, meaning businesses would face a serious impact of their cash flow this year.
Chancellor Alastair Darling is allowing companies to pay just 2 per cent more this year, leaving them two years to pay the remaining 3 per cent over the following two years.
“The government recognises that businesses need help now to ease their cash flow at a time when money is very tight,” said Darling. “This measure will help businesses to smooth their rates payments over the next three years.”
More News
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers