Pictured above: LSH's Mark Clapham
Rating experts at the Birmingham office of national commercial
property consultancy Lambert Smith Hampton (LSH) have praised
Chancellor George Osborne's move to extend business rate relief as
a welcome boost for small businesses.
They say the move to extend the holiday for small business rate
relief till autumn 2012 will help businesses plan ahead, and mean
they can afford to remain in their premises. The measure also
doubles the usual rate of relief so that businesses with rateable
values below £6000 pay no rates at all.
According to Mark Clapham, Director of Rating in the Birmingham
office of LSH, many businesses were concerned that the rate relief
holiday was due to end on 30 September this year.
"The announcement that this rate relief holiday will be extended
until 30 September 2012 will help companies meet the costs of
remaining in their premises for a further year at least," he
said.
He also welcomed the announcement of 21 Enterprise Zones, of
which three will be in the Midlands, following Local Enterprise
Partnership regions in Birmingham and Solihull, the Black Country
and Nottinghamshire/Derbyshire.
"The confirmation that the Government will offer up to 100 per
cent business rate discount worth up to £275,000 to
businesses located in Enterprise Zones for five years, along with a
range of other benefits and incentives, is to be applauded, but as
ever, the devil will be in the detail and we eagerly await more
information on how these zones are going to operate," he
said.
For more information about Lambert Smith Hampton, please visit
their website here: www.lsh.co.uk