Businesses Given More Time to Pay Business Rates

7 May, 2009

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.