View more on these topics

AS2013: Govt to cap business rates at 2%

Increases in business rates in England and Wales will be capped at 2 per cent from next April, Chancellor George Osborne has announced.

Business rates would have otherwise been linked to RPI inflation.

In today’s Autumn Statement, Osborne also said businesses will be allowed to pay their rates in 12 monthly instalments, rather than 10, from April 2014. 

He also announced a £1,000 discount on business rate bills for all small companies in premises with rateable value of under £50,000 a year, for the next two years.

In addition, the Chancellor will introduce a new reoccupation relief that will half the rate for new occupants in vacant premises.

Osborne said: “Business rates impose a heavy burden on businesses of all sizes. Today, we will help ease that burden.”

He said the reoccupation relief and £1,000 discount on business rate bills will help strengthen local retailers – the group of businesses which he said have been hit particularly hard by the recession. 

He said the reoccupation relief will help “get the vacant shops that blight too many town centres to open again”. 


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm