Claim that rate rebate, MP urges bosses (From Worcester News)

Claim that rate rebate, MP urges bosses

8:10am Monday 22nd June 2009 in

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HUNDREDS of small businesses in Worcester are missing out on almost half a million pounds in tax rebates, it is claimed.

New figures uncovered by the city’s MP Mike Foster show that 594 Worcester businesses could halve their business rates, 417 could reduce their rates and 277 slightly bigger firms could save a total of £10,319.

He is now urging business owners to check their records and claim back any money they are owed.

He said: “It is important to help local small firms during these difficult times. Here is an example of some very practical support that I want businesses to take advantage of.

“For some firms it could mean a rebate of up to £1,200 a year.”

In 2005, the Government introduced the small business rate relief scheme to support small local firms.

For those with a rateable value – the amount of rent set by the Government – of less than £5,000, business rates are halved.

For firms with a rateable value of between £5,000 and £10,000 there is some relief.

There is also a small level of support for firms with a rateable value of between £10,000 and £14,999.

Gary Woodman from the Chamber of Commerce Herefordshire and Worcestershire policy team said: “With the amount of information going across a business owner’s desk, it can be very difficult to respond to everything.

“The chamber would therefore encourage all businesses to contact their local authority, wherever they pay their rates, to check they are claiming all they can from the small business rate relief fund.”

Although business rates are paid to the city council, the rebate scheme is funded by the Government and does not therefore cost the authority any money.

Claiming involves filling in a form and paying a small administration fee.

For more information call 01905 722233 and ask about small business rate relief.