Business rates latest 5th December 2013

Chancellor George Osborne has given his Autumn Statement 2013 - see how business rates will be affected;



- Every retail premises with rateable value of up to £50,000 will get a £1,000 discount off their bills (small shops, pubs and restaurants) for two years from April 2014.



- For the smallest firms, no rates at all.



- New re-occupation relief of 50% of rates for taking on empty retail properties in the high street.



- Backlog of claims to be cleared by July 2015.



- Allow business to pay monthly.



- For all premises there will be a relief for one year, with all rates capped at 2% from next April for a year (rather than proposed 2.6%).



- Chancellor will review rates for potential reform ahead of 2017