SMALL BUSINESS BONUS SCHEME ESSENTIAL TO PROTECT AGAINST FUTURE RATES SHOCK
[ 26-09-2010 ]
With the Scottish Budget proposals set to be brought forward following October’s Comprehensive Spending Review, Scottish Chambers of Commerce have highlighted the importance of non-domestic rates reliefs to Scottish businesses over the coming years. Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:
“With business still lodging last minute appeals against their rates valuations for this year, it is important to highlight the need for the Scottish Government to maintain and improve rates reliefs, such as the Small Business Bonus Scheme, in the forthcoming Scottish Budget.
“Rates reliefs have shielded a number of businesses against the iniquities of this year’s rates revaluation and for small businesses in particular, many have been spared the 200% rates increases faced by many medium sized and larger firms. However we must not forget that this year’s revaluation sets the scene for the next five years and it is therefore essential that the Small Business Bonus Scheme, and the various other rates reliefs on offer, are extended over the course of that period to protect even more businesses from future rates shocks.
“In addition, we are continuing to press the Scottish Government for the return of a Transitional Relief scheme to cushion the blow for those firms who have already been stung by rising rates. Make no mistake, unless Government gets the relief schemes right, many more businesses will yet suffer as a result of an unfair revaluation which has taken no account of the recent recession.”
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