More time to pay your 2009-10 business rates increase

On 31 July, local authorities will be writing to local businesses offering them the option to spread payment of this year’s inflation up-rating to business rates over three years, under new legislation announced by the government in March.

Business rates are adjusted every April in line with the Retail Prices Index for the previous September. The new measure is designed to smooth the effects of the spike in inflation of 5 per cent in September, which would have seen businesses facing an impact on their cash flow this year.

From 31 July:

• All business ratepayers can apply to their local council to put off 3 per cent of their whole year’s 2009-2010 business rates bill. So, if a yearly bill is £5,000, ratepayers will be able to postpone paying £150.
• Those who accrued a rise in their bill because transitional relief has come to an end can defer 60 per cent of the increase.

Related resources: consumer forms, complaints forms, compensation forms, service provider agreement

Subscribe To Site:

Full Post Feed | Summary Feed | Comments Feed