Rates deferral scheme for Scotland
Scottish companies are being reminded that they can spread the cost of the inflationary increase in business rates through the Scottish Government’s rate deferral scheme for 2012-13.
The scheme gives companies the flexibility to defer the uplift in their 2012-13 business rates bills over three years.
The deferred amount is equal to 3.2 per cent of the 2012-13 bill, which will be repaid half in 2013-14 and half in 2014-15.
Speaking to the Dundee and Angus Chamber of Commerce ‘Place in the Modern World’ conference today, Enterprise Minister Fergus Ewing said:
“This Government is committed to promoting prosperity in Scotland and much of this depends on the performance of our businesses - both large and small.
“We are investing in a supportive business environment to ensure that Scotland remains the most competitive place to do business in the UK.
“This year’s Scottish budget maintains that commitment and thanks to our system of reliefs 57 per cent of Scottish business properties currently pay zero or reduced business rates bills.
“The normal annual inflationary changes in the pence in the pound tax rate or poundage, are a consequence of setting the same rate as that in England. I want businesses to have flexibility in the way that they address this and our scheme will allow them to do that.
“Every single business that pays rates in Scotland qualifies for this scheme and we would encourage businesses to access information on the scheme from their local authority.”
Further details of the deferral scheme are available within the Local Government Finance Circular No. 2/2012 and within the Scottish 2012-13 Business Rates Deferral Scheme Leaflet.