Government plans for a 50% business rate discount for small firms, including independent cinemas, music venues and pubs.
At Maughan Mitchell we feel this proposed additional relief, from Business Rates, will be welcome news to businesses.
In our view, however, it is only another sticky plaster on the broken Business Rates system.
We hope the new relief will be applied more widely than to benefit just independent cinemas, music venues and pubs, with an extension to include wider retail and other businesses who are finding the current climate difficult.
We would also hope that the threshold for Retail Relief be raised, as there are many small businesses who have properties valued well over the existing £51,000 threshold, who need help.
Despite this welcome news, Maughan Mitchell’s view is the whole Business Rates system needs much more radical reform and we hope this becomes a priority for the new government.