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Business rates relief - less of a relief than we all hoped...

30 October 2018

Well it’s been talked about over the last few weeks and today we’ve finally heard that the Chancellor promises to help small shops by cutting business rates by a third for all retailers in England with a rateable value of £51,000 or less. It’s claimed that this will mean an annual saving of "up to £8,000 for up to 90% of all independent shops, pubs, restaurants and cafes". However, that clearly isn’t going to help the majority of retailers and end users and the pain continues for them.

Mr Hammond has announced £675m of co-funding to create a 'Future High Streets Fund' to support councils to draw up plans for the transformation of their High Streets. We await further detail on how this is intended to work and how it is possible to draw down on this fund. The devil will be in the detail…

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