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The Budget has heralded some further good news for small business owners says commercial property agency prop-search.
Chancellor George Osborne has announced that Small Business Rates Relief is to be extended by one year at a cost of £370 million. Eligible businesse, those occupying premises with rateable values up to £6,000, will now pay no business rates until 01 October 2012.
Samantha Jones, a Surveyor of prop-search, said: "Business rates place a disproportionate burden on small businesses - often it is their largest overhead along with wages and rent. This extension is most welcome, although it is disappointing that the threshold has not been significantly raised."
Businesses occupiers whose rateable value is between £6,001 and £12,000 will only be entitled to small business rates relief on a sliding scale between 100% and 0%.
Further advice on all rating matters can be obtained from prop-search - Tel: 01933 223300 or by visiting its website - www.prop-search.com