Lincolnshire firms missing out on £4m tax relief

Date: 1st June 2009

Small businesses in one UK county are missing out on up to £4 million in taxation relief, it has been found.

Figures disclosed by the Federation of Small Businesses (FSB), as featured in the Lincolnshire Echo, show that more than 3,300 local companies are failing to take advantage of small business rate relief.

By not applying for the discount, Lincolnshire companies are missing out on a taxation reduction of up to 50 per cent.

Michael Self, county regional organiser at the FSB, told the paper: "It's staggering really. This is government money which has been set aside to help small businesses and all that's necessary for it to be claimed."

He added that the FSB's last poll of regional councils revealed that only half of eligible businesses had received the rate relief.

According to the FSB, as much as £40 million in taxation relief goes unclaimed across the UK each year.