Businesses to pioneer 'automatic' rate relief

Date: 16th January 2009

Business rate relief payments could soon be made automatic under a new scheme being launched, it has been revealed.

Pioneered by the Federation of Small Businesses (FSB) and one local MP, the proposals are aiming to ensure all qualifying firms - such as partnerships and limited companies - receive taxation breaks.

The plans will be put forward by MP Peter Luff in the form of a private members' bill, after the Conservative representative was drawn fourth in the Commons ballot.

Roger Culcheth, chairman of the FSB's local government committee, commented: "This could provide a significant boost for small businesses without affecting the treasury's budget calculations.

"This move would provide vital support to businesses on the high street struggling with cashflow."

Small businesses should also remember the deadline for self-assessment tax returns, with all submissions to be filed online with HM Revenue and Customs by January 31st.