 |
answer text |
<p>We announced at the 2014 Autumn Statement an extra £650 million of support for
2015-16 business rates bills, bringing the total support from 2013 and 2014 Autumn
Statement measures to £1.4 billion in 2015-16. This help includes:</p><p> </p><ul><li>doubling
Small Business Rate Relief for a further year (2015-16);</li><li>a 2% cap on the inflation
increase for 2015-16 (for the second consecutive year);</li><li>increasing the temporary
discount for shops, pubs and restaurants with rateable values below £50,000 from £1,000
to £1,500 for 2015-16;</li><li>extending the existing transitional relief scheme for
two years for properties with a rateable value up to and including £50,000; and</li><li>limiting
backdating of bills arising from changes to the rateable values list.</li></ul><p>These
measures are on top of the 2013 Autumn Statement measures that continue into 2015-16,
including:</p><p> </p><ul><li>allowing businesses to keep their Small Business Rate
Relief for a year where they take on an additional property;</li><li>a 50 per cent
discount for 18 months to new occupants of vacant shops; and</li><li>relief for empty
new builds.</li></ul><p>Further support to undo the previous Government’s reforms
to empty property rates needs to be balanced against the targeted support that we
have already provided on business rates and the overriding need to support the economy
generally by reducing the deficit left by the last Administration.</p><p> </p><p>At
the Autumn Statement, the Government announced a broader review into the structure
of business rates.</p><p> </p><p> </p>
|
|
