Autumn Statement 2013
On 5 December 2013 the Chancellor announced a package of Business Rates measures:
- The increase in the small business rate multiplier will be capped at 2% in 2014/15 instead of the Retail Price Index increase of 3.2%
- The doubling of Small Business Rate Relief will be extended for a further 12 months until 31 March 2015
- Ratepayers receiving Small Business Rate Relief that take on an additional property, which would currently disqualify them from receiving relief will continue to receive their existing relief for 12 months
- A new £1000 discount for retail shops, pubs and restaurants with a rateable value below £50,000 for up to two years, subject to state aid limits from 1 April 2014
- 50% relief for 18 months for businesses that move into retail premises between 1/4/2014 - 31/3/2016 that has been empty for over a year
- Ratepayers will be allowed to elect to pay their bills over 12 installments instead of 10.