Small Business Bonus – check to see if you can benefit urges Michael Russell MSP
SNP MSP for the South of Scotland, Michael Russell, highlighted recent changes to the Scottish Government’s Small Business Bonus scheme and urged businesses to check whether or not they may now be eligible.
The changes, which will come into effect on 1st April, are:
* Businesses with a rateable value of £10,000 or less will have their business rates abolished.
* Businesses with a rateable value between £10,000 and £12,000 will have business rates halved.
* Businesses with a rateable value between £12,000 and £18,000 will have their business rates reduced by a quarter.
* Businesses with small chains of properties with a cumulative rateable value under £25,000 will have their business rates reduced by a quarter.
“The Government has effectively extended the Small Business Bonus scheme to cover businesses which would not previously have benefited from the scheme. It also now means that more businesses will have their rates abolished altogether and other still will benefit from a reduction even where the business has more than one premises.
“I believe that the extension of this scheme is a valuable and sensible measure given the current difficult economic climate and I am sure that it will be welcomed by those businesses who stand to benefit.
“These changes all come in on the 1st of April, so I urge businesses who think they might be eligible to get in touch with the Council to check their status.”