BUDGET 2016: Exempting business rates for many small businesses is a welcome change, says LSH’s head of business rates.
Paul Easton, head of business rates at Lambert Smith Hampton, said: “This will be a very popular change. From 1 April 2017, more than 600,000 small businesses will pay no business rates at all and a further 250,000 will have their bills reduced because of further reductions between £12,000 and £15,000.
“The lower multiplier threshold has also been increased from £18,000 to £51,000. This means that more than half of all business rates payers will see a welcome change to their business rates bills.”
He added that there have long been calls to change the basis for calculating annual increases in business rates from RPI to CPI.
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