FINANCE Secretary Derek Mackay yesterday announced that more than half of all commercial properties will pay no business rates in 2017-18.
Mackay said that, as a result of the Small Business Bonus Scheme (SBBS), an estimated 100,000 small business premises in Scotland will pay no business rates during that period.
The SBBS has already saved small businesses over £1.2 billion since the scheme was introduced in 2008.
In the draft budget, Mackay announced that the SBBS will be expanded, raising the eligibility threshold for 100 per cent relief to a rateable value of £15,000 – generating a saving of up to £6,990 per property.
Speaking during a visit to Mad Hatter’s Coffee House in Paisley, one of the businesses which will now qualify for 100 per cent relief through the SBBS, Mackay said: “This government has consistently delivered a competitive environment for business and we have used our tax powers to support growth.”
But David Lonsdale of the Scottish Retail Consortium said some businesses are being overlooked: “Around three quarters of retail employment is in businesses with no relief.”
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