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News Article Comments : Pub rate cuts labelled as ‘spin’
One in five pubs promised big cuts in business rates will actually get much smaller reductions in the short term.
More than 450 sites will not see the full benefit within five years, said property consultancy company Gerald Eve’s head of rating, Jerry Schurder. He labelled the Government’s £2bn rate-relief measure “a piece of astonishing spin”.
In addition, one in 12 pubs overall will see rates more than double.
The Department of Communities and Local Government (DCLG) has announced a £2bn relief scheme to “limit the impact” of big increases on bills — but it also caps reductions (see box).
Schurder said: “More than 10,000 pubs will be caught out by the ‘downwards surcharge’ — which means that they won’t be able to see their full decrease immediately, but will have to wait until at least 2011/2012.”
In fact, of those 10,000 pubs, more than 450 whose rates will fall more than 30% will not see the full reduction implemented by 2015, when the next revaluation takes effect.
Schurder
| Author Name | Opinion | Reply |
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info man 26/11/2009 12:42:19  |
RE: Pub rate cuts labelled as ‘spin’ Spin? Of coiurse its spin.What about some research into the BBPAs involvment is this fiasco? This post replies to this thread |
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David Hollings 26/11/2009 14:01:12 |
Pub rate cuts labelled as ‘spin’ Slightly off topic I know, but can anyone tell me where the VOA have got their FMT figure that they are basing the rateable value from? The reason I ask is that the FMT figure on the VOA info is right about where I think it should be and the FMT the pubco have invented as part of my rent review is 25-30% more than that.... This post replies to this thread |
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| John Ellis 26/11/2009 14:39:26 |
Pub rate cuts labelled as ‘spin’ I have the opposite problem. Despite being one of the smallest pubs in our town, I will soon have the biggest rates, following an 89% increase. This is due to the B.B.P.A.'s setting the standards with the V.O.A. As a freetrader, the B.B.P.A. does not speak for me and it never will. However, its interference has allowed the V.O.A. to determine a nominal rentable value for a pub it has never visited. I certainly intend to be part of that 4% the Government will lose on the appeals process, especially as a greater percentage of my turnover does not belong to me, but goes in increased tax and duty to the Chancellor!! John Ellis Crown Inn, Oakengates This post replies to this thread |
