Autumn statement: Chancellor offers business rates help for pubs

By Michelle Perrett

- Last updated on GMT

Related tags: Small business rate, Small business, Business, Taxation in the united kingdom

Pub business rates discount
Chancellor George Osborne has promised pubs with a rateable value of under £50,000 a rebate of £1,000 over the next two years.

Speaking during the Autumn Statement today Osborne said he recognised the “heavy burden” that business rates puts on businesses of all sizes and the Government “wants to do all it can to help them”.

He said: "A thousand pounds off for small shops, pubs, cafes and restaurants across our country.

"The people in these businesses epitomise the hardworking values this government supports."

Small Business Rate Relief

He has extended Small Business Rate Relief until March 2015 - extending the relief for an additional year.

He has also capped business rate increase from next April to 2% up from the expected 3.2%. Businesses will also be allowed to pay their rates in 12 monthly instalments. Osborne also promised to review business rates in time for the revaluation in 2017.

And he has promised to clear all valuation appeals by July 2015.

Support for High Street

Osborne also promised Government support for the high street and has introduced a new reoccupation relief for businesses opening in vacant premises.

The British Beer and Pub Association has predicted that three out of four pubs will qualify for the £1,000 refund.

Osborne admitted that the Government had to make more “difficult decisions” and that there must be a “responsible recovery”.

Further details of other policies revealed that the Government will tackle alcohol fraud by introducing a registration scheme for alcohol wholesalers will be introduced in early 2014. 

Other policies:

The £50bn the export finance capacity available to support British businesses

State pension to increase by £2.95 per week

Start up loans for small businesses which will allow 50,000 people to open their own businesses

The Government will fund employers directly via HMRC for apprenticeships and will fund an extra 20,000

JobCentre Plus will give more for support to 16-17 year-olds looking for work

Related topics: Other operators, Legislation

Related news

Show more