Tax Breaks Benefit Small Businesses

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Tax Breaks Benefit Small Businesses

24/10/2012

More businesses are saving more thanks to the Scottish Government?s Small Business Bonus Scheme (SBBS), according to official statistics published today.

The figures show that 89,087 properties are benefitting from SBBS in 2012 -13 an increase of almost 4,000 from this time last year. In 2012-13 ?144 million in business rates relief was provided, an increase of ?13 million from 2011-12 when ?131 million of relief was provided.

The maximum saving per property in 2012-13 is ?4,500 and a total of ?564 million of relief has been awarded to Scottish businesses since the introduction of the scheme.

Local Government Minister Derek Mackay said:

"I am extremely pleased to learn that so many of our smaller companies are taking advantage of the Small Business Bonus Scheme. The substantial savings that they are making on their rates bills can help give them the competitive edge that is so important in the current economic climate.

"The success of our small and medium sized businesses is essential to the success of our overall economy. That is why the Scottish Government is committed to maintaining Scotland as the most competitive place to do business and providing the most generous package of reliefs, which includes the SBBS, available anywhere in the UK. When considered together these reliefs are worth over ?500 million a year.

"We have already agreed to maintain SBBS for the life of this Parliament - a clear indication of this Government?s commitment to take forward the policies that will help our businesses prosper.

"This is great news for the many tens of thousands of businesses in town centres the length and breadth of Scotland who are paying zero or substantially reduced rates under the SBBS"

Source: http://www.scotland.gov.uk/ID3/269716

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