The British Independent Retailers Association (Bira) reflects that the Treasury’s decision to increase discount rates for small retailers from one-third to 50% will save its members on average £12,000 per year. Similarly, The Federation of Small Businesses (FSB) has also said the move will ‘breathe new life into our small shops.’
The victory follows Bira’s three-year campaign to review the outdated and unfair rates system. The increase in the level of the discount will apply in 2020/21 for eligible retail businesses occupying a property with a rateable value less than £51,000.
Now Bira is calling for the discount increase to be made permanent; the original 30% discount was set to run until 2021.
Andrew Goodacre, Bira ceo states: “It is a victory for our campaign to reduce rates for the smaller retailers. We now need to make it a permanent change as the original 30 per cent discount was set to run until 2021.”
All reliefs are subject to state aid rules and apply in England only. The Government confirms that it will fully fund local authorities for awarding these reliefs. It expects local authorities to ensure these changes are applied for the start of the 2020/21 billing period.
* Bira is co-hosting the Bira/BHETA Pavilion featuring Bira Direct exhibitors in Hall 8 of Spring Fair – opening this weekend (NEC Birmingham February 2-6).
