Independent high street firms get business rate boost

Many news sources are today reporting that thousands of independent high-street premises are to benefit from business rate cuts from 1st April 2019, under a two-year Government scheme that will cut bills by a third for premises with a rateable value below £51,000.

English local authorities have set aside £502m this financial year to cover the cost of the cuts, which property adviser Altus said would help the average shop save £3,292, and the average pub £6,052. Robert Hayton from Altus urged firms to check whether their local authority was applying the discount automatically, or whether they would need to apply.