Relief as small business rates scheme extended

SMES and the commercial property sector have welcomed the Chancellor’s announcement that the small business rates relief scheme is to be extended by a year.

The scheme exempts certain rate payers from paying any business rates and reduces the amount paid by others (around 400,000 pay no business rates at all).

Chris Burgess, a regional chairman of the Federation of Small Businesses, which campaigned for the extension, said: “The Government has listened to the FSB’s calls for small business rate relief to be extended for another year, which is to be welcomed.”

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One property sector insider said it was almost inconceivable that the Chancellor would not extend this additional relief for small businesses and it will be welcomed by all who currently benefit from it – thought to be around 600,000 businesses.