Business and Other Briefings
CLG: Communities & Local Government Secretary, Eric Pickles, announced last week that emergency regulations have been introduced to ‘put a halt on demands for unfair, retrospective business rate payments affecting ports’.
Many ports companies have been facing huge backdated business rates bills reaching into the £ms after changes to the way rates were calculated in 2008 by the Valuation Office Agency. As an urgent first step, the new regulations will suspend unexpected backdated business rate payments, including for port companies, giving a lifeline to struggling firms and supporting a vital part of Britain's manufacturing industry.
The freeze applies to businesses liable for backdated business rates where bills are subject to the 8-year schedule of payments. Businesses can contact their local billing authority to check eligibility.
