NEWS RELEASES
Small businesses could save money
1st March 2006
SMALL businesses in the Horsham District could be missing out on saving money by not applying for tax relief.
In recognition of the disproportionate impact of Business Rates on small businesses the Government introduced a scheme from the beginning of April last year which provided rate relief as follows:
-
Sole businesses with a rateable value of less than £5,000 receive 50% relief
-
Sole businesses with a rateable value of over £5,000 but less than £10,000 receive relief on a sliding scale
Prior to the scheme being introduced last year, Horsham District Council issued invitations to all small businesses to meetings to explain the scheme and issue application forms.
A further reminder has been sent to all small business ratepayers with their rate demands this year.
However, only 451 out of 1,626 small businesses in the local area have applied for this relief.
Because the relief only applies to sole businesses, applications have to be made for the relief to be granted and whilst a number of the 1,626 may not qualify as they are part of a larger chain there are still many that it will be applicable to.
Small businesses are an integral part of the local economy and the Council is keen to ensure they receive all the support they are entitled to.
Councillor Roger Paterson, Cabinet Member for Economic Development and IT at Horsham District Council said: “For many small businesses, business rates are a very large proportion of their overall costs, and so the Government's rate relief scheme is much to be welcomed.
“The Council is keen to encourage all small businesses to apply for rate relief as soon as possible to ensure that they are not paying more business rate taxation than absolutely necessary.”
Applications for 2005/06 must be made within six months of the end of the financial year in which they wish to be considered for relief, e.g. 30 September 2006.
Any small businesses who think they may qualify are invited to contact Horsham District Council on (01403) 215330 or (01403) 215331, email: contact@horsham.gov.uk
Ends
CONTACT: Richard Morris, Communications Manager
Email: richard.morris@horsham.gov.uk