Tax & Accounting News

Businesses Given More Time to Pay Business Rates

05/05/2009

Alistair Darling made a late change to the impact of business rate rises which were due to take effect in England from 1 April 2009.

Business rates were due to go up by 5% from 1 April 2009. However under the new scheme the rise will be restricted to 2%, with businesses being able to spread the cost of the remaining 3% over the following two years. Many had feared that the proposed increase could have caused major cash flow issues for many businesses.

For more information see the fact sheet.

Internet links: Fact sheet and BBC news