Hacked by Loard Mahdi

Read more...

Breaking news from the BBC Paper tax returns to be replaced by digital by 2020

Read more...

HSBCs bank in Switzerland raided.

Read more...

New PAYE Codes from April 6th 2011.

Read more...

Changes to the amount HMRC can collect through your tax code.

Read more...

Contact Us

News Items

Tax Tips

Brilliant with numbers
Great with people
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals


Helping Your Business is Our Business


Call us now on 023 8083 6900 ABDS Home

News - 20 November 2014

Changes to business rates could help small firms

Local authorities could have greater flexibility to offer business rate discounts to small local firms, under a proposal put to the Chancellor by the Local Government Association (LGA) in November 2014.

Liz Kennett, Manager of the Accounts Department of ABDS comments:
“Local Councils, who are responsible for collecting business rates, are hugely restricted in their ability to introduce local discounts. This is because the government sets the charge and keeps half of business rate income as well as any extra income earned from new business premises. The LGA are concerned that many small firms and businesses which do most of their trade on the high street rather than online are unfairly penalised by business rates in their current form.”

The LGA says that business rates should be set by local government. Any growth in business rates income should be retained by local government, and the redistribution of business rates should be taken out of central government's hands.

The Chancellor is being urged to deliver a boost for small businesses in the forthcoming Autumn Statement by committing to devolving control of business rates down to local government.

They have called for policies including start-up leases for new businesses or rate relief for firms which use local suppliers, and for linking business rates to turn-over and e-commerce as part of a wider package of reforms to make business rates fairer for business and local areas.

Cllr David Sparks, Chair of the LGA, said: "We need a system of local business taxation which is fit for the 21st century, which supports the areas in which companies operate and which helps, rather than hinders, business and the growth of our economy. The idea that the local taxes paid by business should be based solely on the size of a building predates the English Civil War. In a world where business and retail is increasingly happening online, a fundamental rethink is clearly long overdue."

If you need any help and advice on Business Financial Planning and Development, don’t hesitate; contact Lavinia Newman, Stuart Coleman or Liz Kennett NOW to discuss how ABDS can help in all your Business planning.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

« Back to News