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The British Independent Retailers Association (Bira) has launched a business rates manifesto, in an attempt to shift the government’s approach to the tax, reports Drapers.
The manifesto proposes the introduction of a rateable allowance for small businesses of £12,000 per property, with the aim to alleviate the burden of business rates on smaller businesses.
It was unveiled at the House of Commons on 11th September.
The proposed allowance would mean that small businesses, classed as those with a rateable value below £51,000, would be able to receive a £12,000 allowance on their calculated business rates.
The allowance would then taper over the £51,000 threshold.
Currently, businesses with a rateable value of £12,000 or under are eligible for business rates relief, with a taper up to £15,000, and Bira estimates that the average rateable value for its members’ stores is at least £20,000.
In addition to providing relief, the proposals aim to go some way towards levelling the playing field between online businesses and high street shops, to give small retailers more opportunity to thrive.
Bira has presented the proposals to the Treasury and is currently working on impact studies concerning the details of the project.
