Ryedale business tax relief hope (From Gazette & Herald)

Ryedale business tax relief hope

SMALL businesses across Ryedale's market towns and villages may be entitled to a reduction in their business rates.

As a result of a consultation exercise on the proposed Small Business Rate Relief Scheme, the Government has made a number of recommendations, which may mean more businesses could be eligible for relief.

The news has been welcomed by Pete Mudge, pictured, of Malton and Norton Initiative, he said: "It's terrifying the business rates that some small businesses pay.

The intention of the scheme is to benefit them and assuming that the facts and figures are correctly in place, it's good news."

Recommendations from the consultation include:

Eligible properties below £5,000 rateable value will receive 50 per cent rate relief and this will decrease on a sliding scale of 1 per cent for every £100 up to £9,999 rateable value.

Relief will also be extended to include those ratepayers who occupy other properties where these properties are each under £2,200 and the total rateable value of all properties below £15,000

Eligible properties between £10,000 - £14,999 rateable value will have the small business rate multiplier applied to the calculation of their bill. The proposed Small Business Rate multiplier is 41.5p

All properties over £15,000 rateable value will be charged on a proposed multiplier of 42.2p which will include a supplement to pay for small business relief.

People with queries should phone the revenues section on 01653 600666 extensions 258, 218 or 219 or e-mail brates@ryedale.gov.uk.

Updated: 11:28 Thursday, January 20, 2005