ACS

A senior MP has introduced legislation that would make it automatic for qualifying businesses to get Small Business Rate Relief. The legislation, which is a Private Members Bill* (PMB), has been introduced by Peter Luff MP. 

The Bill aims to address the current problem that over half of small businesses miss out on the relief because either they don't know about it or they don't realise that they are eligible. These businesses could be up to £1,100 better off per year if they take the rate relief.

ACS Chief Executive James Lowman said: “We are pleased with any move that will reduce the business rate burden on local shops. ACS has been growing more concerned at the large increases in business rates planned by the Government to hit businesses over the next few years. We encourage small businesses throughout the UK to find out if they are eligible for the relief available to them.”

There is still around £200 million yet to be claimed and businesses can now apply for a refund for 2007/ 08, an adjustment to their 2008/ 09 rates assessment and a reduced rates bill for 2009/ 10, up until 30th September 2010.

To find out if you are eligible for Business rate Relief read the guidance on the Business Link website or click here for a free calculator.

 *A PMB is one way for non-Cabinet MPs to implement legislation. However PMBs often fail to make it into law if they face opposition from Government. Success is rare but the most recent is the Sustainable Communities Act 2007.