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Are You Missing Out on Business Rate Relief?
More than a fifth of small businesses who
are entitled to Business Rate Relief are
failing to claim it; effectively throwing
away free money.
 The
Federation of Small Businesses (FSB)
surveyed over 1000 of their members that
were eligible for rate relief since the
scheme was introduced in April; a surprising
22% of those surveyed said they have not
applied and do not intend to.
Worryingly, the FSB believes that the number
of businesses failing to claim is higher
still; recent figures from Newcastle City
Council showed that only a third of eligible
businesses were claiming, while the
government’s own estimates run at just 50%.
Roger Culcheth, FSB Local Government
Spokesman said: “Small firms are losing out
on millions of pounds. Their loss is the
Treasury’s gain because the new system of
rate relief for small businesses has been
financed by imposing higher bills on larger
firms.”
“Small businesses have to apply for the
relief whereas large companies are
automatically billed the higher rate. If
the government is not prepared to make the
relief automatic, it must do far more to
make businesses aware that this money is on
offer. The publicity campaign has fallen
woefully short so far.”
The survey relates only to businesses in
England, as Scotland, Wales and Northern
Ireland have separate business rate systems;
however, it makes sense for all small
business to check if you are missing out on
rate relief.
Find out more about Business Accounting in
our portal here.
Find out more about rate relief from the
government's business rates site here.
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