todays budger; business rates.

jelly3 · Mar 24, 2010

In light of the todays budget an estimated 345,000 business will not pay any business rates from October 2010 for 1 year. Are you one of these businesses and what will you do with your unexpected windfall?
Save it for another year, as councils are bound to take revenge the year after.

Or invest it in your business?

Or buy the dog a new bowl?

Yes I misspelled the title, it must be all the excitement.

stphnstevey · Mar 24, 2010

Just wondering if there would be anyway for those that work from home to switch to business rates for that year and save on council tax?

glasses123 · Mar 24, 2010

does this apply to all SME businesses?

GillespieBS · Mar 24, 2010

Many small businesses are based at home or serviced offices. As far as I am concerned they will not benefit as the serviced office will swallow the saving and home based businesses will have no effect.

Ray Coman · Mar 24, 2010

I gather that from 1 October for 12 months, if you have a rateable value of less £6,000 or less you will be exempt and a value between £6,001 and £11,999 you will have an increase for the small business rates relief. I gather the detail is not out until later in the month.

I hope to move to larger premises soon and if so will not spending all of the money saved at once. After all there are frozen allowances and increases in NI to plan for.

mapiman · Mar 24, 2010

jelly3 said:
Save it for another year, as councils are bound to take revenge the year after.

It has nothing to do with local councils. They only collect rates on behalf of central government (like the post office does for car tax or tv licences).

Local councils are funded by central government grant and only about 20% of the amount they receive comes from council tax. Business rates go to central government. All this means is that the councils will get the same money but central government will take the "loss".

jelly3 · Mar 25, 2010

mapiman said:
It has nothing to do with local councils. They only collect rates on behalf of central government (like the post office does for car tax or tv licences).

Local councils are funded by central government grant and only about 20% of the amount they receive comes from council tax. Business rates go to central government. All this means is that the councils will get the same money but central government will take the "loss".

It was a joke.

jelly3 · Mar 25, 2010

I will save mine for one of those unexpected surprises.
I do not have a serviced office or work from home.

Jaykay · Mar 25, 2010

The devil will be in the detail as usual with this lot. Watch out for the small print after they have had the congratulations and misguided votes from grateful small business owners. Cynical? Me?

Christiane · Mar 25, 2010

I get 25% relief, wouldn't mind another 25%, please, thank you!

helenthemum · Mar 26, 2010

I will save £270 next year.

Better than nothing.

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