Businesses given more time to pay business rates |
Alistair Darling made a late change to the impact of business rate rises which were due to take effect in England from 1 April 2009. Business rates were due to go up by 5% from 1 April 2009. However under the new scheme the rise will be restricted to 2%, with businesses being able to spread the cost of the remaining 3% over the following two years. Many had feared that the proposed increase could have caused major cash flow issues for many businesses. For more information see the fact sheet.
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