New Forest

26/11/2018

More rates relief for small businesses

There has been much lobbying from the small business sector to reduce business rates to enable traditional retailers in particular to compete with internet traders.

The Chancellor has announced a one third reduction in business rates for small businesses with premises with a rateable value up to £51,000.

New capital allowance for commercial buildings

A new 2% straight line tax deduction is being introduced for the cost of construction or renovation of commercial buildings and structures.

This tax break will apply to eligible construction costs incurred on or after budget day and will be available to commercial property landlords as well as trading businesses. The cost of the land is specifically excluded.

For further information on Business Rates Relief or Capital Allowances, please contact Arthur Bell on 023 8046 1205.

Latest Tweets

In 2018, almost 1.4 million businesses employed staff members. For those small businesses, operating the payroll can be time consuming without dedicated resource https://t.co/z2Xx3wqfGh

As of 1 January 2019, there is a temporary increase in the Annual Investment Allowance (AIA) to £1 million https://t.co/tL4X45bFlk

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