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Rate relief for small firms could be doubled

Published On 23 January 2007 at 13:49:30

Small businesses could soon be benefitting from an increase in rate relief if calls from the Federation of Small Business Scotland (FSB) are heeded.

The organisation has called for the small business rates relief scheme (SBRRS) to be doubled by the Scottish Executive.

Should the proposal get the go ahead, firms with a rateable value of below £3,500 would be removed from the rates system.

The FSB Scotland is also calling for the rates relief scheme to run for five years at a stretch, ensuring that small firms would no longer have to reapply each year.

The policy convener of the FSB Scotland, Andy Willox, said: "All the main parties have publicly stated that they want to reduce the rates burden on Scotland's small businesses, and the obvious way to do that is to extend the small business rates relief scheme.

"Scotland should again lead the way in small business support by doubling SBRRS, which could make a huge contribution to our business start-up, business sustainability and economic prospects."

The plans would cost the Scottish Executive around £30 million a year, it has been estimated.

 

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