Business Rates

When I ran my own business I knew how much a worry the business rates bill was. The bill always seemed to increase at a faster rate than I expected. Re-valuation was a further worry. In the next few weeks all businesses in England will start receiving their bills based on a new valuation of their premises. Whilst overall the renewal is fiscally neutral in other words gainers are balanced by losers because the government has introduced some specific help as part of a £6.5 billion package of reliefs across the Country around three-quarters of all businesses will see their business rates either fall or stay the same. 600,000 will stop paying business rates altogether. the good news for Bury is that there will be an average reduction of 9.1% in bills primarily because of the number of small businesses we have.