Interesting News

Business rates bills

The government has confirmed that 60% of business rates will fall next year as a result of revaluation and that it will not collect a penny more of extra revenue as a result of the 2010 revaluation, which is carried out every five years.  However, rates bills for some businesses will rise significantly.

The government recently announced that it will remove the requirement to re-apply for small business rate relief, which can reduce business rates by up to 50%, at revaluation, reducing bureaucracy for small businesses and billing authorities.

John Cridland, CBI Deputy Director-General, said:

“We’re concerned by the government’s announcement on business rates today. Although business rates will fall overall, in some areas of the country they will rise sharply, which is worrying at this critical time for the economy.

We called for the government to cap business rate increases at lower levels than those announced today. For example, we called for a maximum rise of 7.5% for larger properties, but the government has announced a maximum rise of 12.5%. This is worrying.

We’re particularly concerned about the potential for sharp rises in business rates in London, where properties were revalued near the height of the market. Given the economic situation, a significant rise in business rates could make a critical difference to companies trying to survive the recession.”

We have just launched our Expense Control Service, designed to help reduce core overheads for businesses.

“The service has been designed in response to today’s market where cost control is essential if a business is to survive or thrive,” says HWB director Richard Hurst.

“Our specialist team assesses a company’s spend on overheads in excess of £3000 a year - telecoms, utilities, business rates, insurances, office equipment, vehicles or travel.  We then identify where savings can be made.  On average we have been able to make savings for clients in excess of 20% and in some cases up to 60%.”

The process is a confidential, free of charge, no obligation costs audit using invoice information and electronic data. With access to senior procurement specialists, HWB negotiates improved supply agreements and implements them within a few weeks.

• 
• Follow our blog