Business rates deferral scheme launched

BUSINESSES in the North West have been offered the chance to defer  rates worth nearly £60m.

The Government is has launched a business rates deferral scheme that allows firms to delay paying some of their rates bill for up to three years.

Business groups expressed disappointment when Chancellor George Osborne did not take action in the Budget on the 5.6% rise in business rates that takes effect this month.

Local Government Minister Bob Neill is writing to every council in the country urging them to make sure they make businesses aware of the new deferral scheme and other help available including a doubling of small business rate relief.

He said: “The Coalition Government has taken action to make sure there are a series of measures in place that support businesses and promote economic growth.

“It is vital that councils make sure every firm in their area know about the offers available – like the fact that our Localism Act means the double discount for small firms, worth millions, is now easier to claim than ever before, or that there is a three year interest deferral out there – so they are taken up.”

Nationwide, the scheme is allowing deferrals of £605m.