Business rates reductions ‘not enough’ to help small businesses

Rating expert at Colliers International in the North West claims the latest revaluations do little to help struggling small firms in the region. Tony McDonough reports.

Business rates reductions are not enough to help many firms, claims Colliers
Business rates reductions are not enough to help many firms, claims Colliers

Small businesses in Merseyside and across the North West are “buckling” under the cost of business rates, an expert is warning.

Adam Burke director and head of rating at the North West offices of Colliers International in Liverpool Manchester says that despite the latest rates revaluations published last week, firms still face huge pressures.

Draft rateable values are published a few days ago by the Valuation Office Agency, giving every business its latest base figure with which they can calculate their business rates bill.

In recent days, the government has published other data (transitional relief and multipliers) that enables ratepayers to calculate their business rates liability from next April.

All regions of the country, except London, can expect business rates reductions.

Mr Burke said: “The government is making it clear that three out of four business rates bills will stay the same or fall. But they are not falling enough.

“Some depressed parts of the UK should be expecting 40% reductions in business rates – these latest proposals mean they will only see a fall of 2% next year.

“By limiting the downward transition for much of the country, depressed areas already buckling under their business rates’ bills will struggle to see the much-vaunted government ‘fairness’ in these business rates figures.”

You might also like More from author

Leave A Reply

Your email address will not be published.

Username field is empty.