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Staircase tax reversal brings relief to thousands of UK firms

The UK government is beginning the process of scrapping staircase tax levy.

On December 29, draft legislation was published by Sajid Javid, the Communities Secretary. Once this new legislation has been reviewed and passed, around 80,000 UK firms will no longer need to pay the staircase tax.

In fact, some will be due a refund, as Javid highlighted in a recent interview:

“I am ending this by giving those businesses affected the option of getting their rates bills recalculated and any savings due backdated.”

From the start, this tax was viewed by many as unfair. It led to firms that operated on two floors of a building that were accessed by means of a communal staircase being categorised as occupying multiple business premises. This left them having to pay higher business rates than firms who operated on just one floor in the same building.

In addition, being categorised as running multiple business premises led to many companies no longer being able to claim small business rates relief. Matters were complicated further by the fact that these changes were to be backdated. For firms operating in Wales, bills were to be backdated to 2010 and in England to 2015.

Accountants from Heswall to Chester will be studying the proposed change. They will work with their clients to help them to understand the impact of the change. With the possibility of rebates, accountancy firms across the UK will also be helping their clients to secure those funds.

Posted by Peter
January 4, 2018
Small Business

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