Reduction in small business rates comes as welcome news for independent garages

Relief could knock a third off company bills at a time when garage investment in new skills and equipment is essential

Reduction in small business rates comes as welcome news for independent garages
Chancellor Philip Hammond confirmed that small business rates are to be cut by a third. Image: Bigstock.

Business rates are to be cut by a third for companies with a rateable value of £51,000 or less, Chancellor Philip Hammond announced in yesterday’s Autumn Budget.

The Chancellor confirmed that its new business rates relief, targeted at small retailers, could knock a third off their bills and that 90 per cent of them would benefit from the proposals.

The Independent Garage Association (IGA) has welcomed the reduction in small business rates.

Stuart James, IGA director said: “We are delighted the Chancellor is considering small businesses who are the lifeblood of the UK economy,” Stuart James, IGA Director comments.

“This will help garage owners by allowing them to reallocate their budget in a difficult market environment, at a time when the aftermarket is evolving and an increase in investment in tools and equipment is absolutely essential.”

Motoring

The Chancellor also announced that there would be a £28.8 billion cash injection to upgrade and maintain the country’s motorways and other major routes.

Another £420million has also been promised to fix potholes and carry out other repairs on local roads.

RAC chief engineer David Bizley said it was “good news” for motorists.

“While the focus of this cash injection is strategic and major roads it is also positive that other local roads will benefit to some extent,” he said.

“But what is also needed going forward is similar long-term strategy and funding for the maintenance and improvement of all local roads so that we can over perhaps ten years eliminate the backlog in preventative maintenance that has led to so many potholes appearing during periods of adverse weather.”

Fuel duty has been frozen for a ninth year, saving the average motorist £1,000 since 2010.

Let us know if the rates relief will benefit your garage in the comments below – will you be reinvesting any savings?

Home Page Forums Reduction in small business rates comes as welcome news for independent garages

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  • #166314 Reply

    Business rates are to be cut by a third for companies with a rateable value of £51,000 or less, Chancellor Philip Hammond announced in yesterday’s Autumn Budget.

    The Chancellor confirmed that its new business rates relief, targeted at small retailers, could knock a third off their bills and that 90 per cent of them would benefit from the proposals

    [See the full post at: Reduction in small business rates comes as welcome news for independent garages]

    #166381 Reply
    Dougal
    Guest

    I shall be investing part of the money in a holiday, it has been a while since the last one.

    #166399 Reply
    Norma Fitzpatrick
    Guest

    May need to recheck this ,we are classed as a service industry and probably won’t qualify
    Don’t book that holiday yet

    OMG do I understand where your comming from regarding the holiday

    #166403 Reply
    Andrew Clarkson
    Guest

    There will be some reason to exclude garages from taking advantage of this.

Viewing 4 posts - 1 through 4 (of 4 total)

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