• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Saturday, February 27, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home Business

CVS Business Rates voice heard loud and clear as the Chancellor announces £435M cut in business rates for those set to be worst hit

by Elliot Preece
09/03/2017

Chancellor Philip Hammond unveiled his first and last Spring Budget yesterday, and, we are pleased to say, announced three key measures of support to alleviate the pain of the imminent Revaluation.

As the leading voice in the business rates debate, CVS business Rates was keen to learn whether the recommendations put forward in our recent meeting with the Rt. Hon Sajid Javid, Secretary of State for Communities and Local Government, would be implemented.

We’re delighted to say they certainly have.

During the meeting CVS presented three main recommendations to the Secretary of State:

  • Help those 25,000 small firms exiting small business rate relief after 7 years, and provide protection –  protection which the current transitional relief scheme fails to offer
  • Provide a business rates discount for pubs – over 11,000 public houses have sadly closed their doors during the current rating period
  • Offer a discount to small high street shops unfairly treated when it comes to business rates, especially when compared to many out of town retail giants

Pleasingly the Chancellor has adopted the following points:

  • A cap resulting in business rates rising by no more than £50 a month for small businesses who are losing their small business rate relief as a result of their RV increasing above the threshold
  • Public Houses to receive a £1,000 discount on business rates if the RV is less than £100,000– equating to 90% of pubs
  • A £300m fund for discretionary relief for local authorities to support the most affected businesses

 The above amounts to a £435m package of relief for businesses.

We would like to thank the Chancellor and Secretary of State, who have clearly demonstrated that they have listened to the concerns of business and, more importantly, have acted upon those concerns with meaningful financial support.

Longer Term Reform

RelatedPosts

Tools That Every HR Manager Absolutely Need

How to Use Web Forms to Collect Customer Feedback

HR’s Tips On How To Resolve Conflict In The Workplace With Minimal Losses

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

Load More

Notwithstanding the positive changes above, CVS is not entirely satisfied as the package does not offer much support for those businesses with higher rateable values. Given the issues we have highlighted with the tax reductions for large distribution centres, and the dismay and deep concern that this has caused, meaningful discussions must now be had around the tax system as a whole to ensure that it is fit for purpose for the 21st century economy.

It remains our opinion that a long term reform of business rates is required to make the system more responsive and fair. It is essential that business rates are not perceived as ‘anti-business’ but rather as a key funding element for local services.

Tags: budgetbusinessbusiness ratesbusiness rates reliefChancellorcvs business ratescvs surveyorsDCLGMarch Budgetspringbudget
Previous Post

Top six ways to save money this year

Next Post

The Dos and Don’ts of Fine Wine Investment - UK Agora

Related Posts

Tools That Every HR Manager Absolutely Need
Business

Tools That Every HR Manager Absolutely Need

26/02/2021
How to Use Web Forms to Collect Customer Feedback
Business

How to Use Web Forms to Collect Customer Feedback

25/02/2021
HR’s Tips On How To Resolve Conflict In The Workplace With Minimal Losses
Business

HR’s Tips On How To Resolve Conflict In The Workplace With Minimal Losses

25/02/2021
Next Post
The Dos and Don’ts of Fine Wine Investment – UK Agora

The Dos and Don’ts of Fine Wine Investment - UK Agora

Retiring in the Sun: 5 Top Financial Tips

Retiring in the Sun: 5 Top Financial Tips

7 Top Tips for First Time Landlords

What is Equity Release and is it Right for You?

Latest News

The Forex market starts with Traders Union

The Forex market starts with Traders Union

26/02/2021
5 Most Common Causes Of Clogged Drains

5 Most Common Causes Of Clogged Drains

26/02/2021
Energy Smart Products Useful For Your Home

Energy Smart Products Useful For Your Home

26/02/2021
Tools That Every HR Manager Absolutely Need

Tools That Every HR Manager Absolutely Need

26/02/2021
Trust is what drives a moving industry

Trust is what drives a moving industry

26/02/2021
How to Use Web Forms to Collect Customer Feedback

How to Use Web Forms to Collect Customer Feedback

25/02/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.