IGA welcomes Chancellor’s support for small businesses in 2020 Budget

Independent garages with rateable value under £51,000 set to "benefit greatly"

IGA welcomes Chancellor’s support for small businesses in 2020 Budget
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The Independent Garage Association (IGA) has welcomed changes being made to small business rates, as announced by the Chancellor in this week’s 2020 budget.

IGA CEO, Stuart James said: “It is a welcome move from the government to abolish the rates in the retail sector.

“Most independent garage businesses have a rateable value of under £51,000, and will benefit greatly from this.

“The cost of running a garage and investing in new equipment, coupled with the shortage of skilled technicians, is a significant concern for garage owners and this measure will be a great help.”

In this week’s Budget, the Chancellor also announced £2.1 billion would be made available for grants of £3,000 for any business which qualifies for small business rates relief.

The 100 per cent retail discount will be extended to eligible retail businesses, meaning a total 12-month exemption for retail outlets from the 6th April 2020.

This is estimated to save each business up to £25,000.

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  • #192691 Reply

    The Independent Garage Association (IGA) has welcomed changes being made to small business rates, as announced by the Chancellor in this week’s 2020 b
    [See the full post at: IGA welcomes Chancellor’s support for small businesses in 2020 Budget]

    #192713 Reply
    Sandows Garage Ltd
    Guest

    I would be interested if you have received confirmation that this reduction will be applied to repair garages. I haven’t been able to obtain the required confirmation from the IGA help desk, my local authority or Gov UK website.

    #192830 Reply
    Paul Henderson
    Guest

    It is not clear that repair garages will be included within whatever defenition of “retail” that is to be used. It’s no coincidence that many local councils rushed to get out the 2020/21 bills in advance of the buget.

    Our bill landed a couple of days after the budget but dated two days prior.

    With events moving so quickly, it is clear that come April many councils will be trying to collect rates from the customer facing retail businesses that are not Pubs or Restaurants.

    If there is any offical source or backing for the story, it would proved useful for everyone.

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