Business Rates Update
Aberdeen City Council has finally approved a £4.2 million local package of business rates relief to limit the impact of the 2017 Rates Revaluation on hard-pressed businesses within the City. Currently, the Scottish Government transitional relief scheme applies only to the hospitality sector and offices in Aberdeen City and Aberdeenshire. The additional local package will extend the 14.75% cap on increases in rates payable to all other property types – this will be particularly welcomed by occupiers of large industrial premises in the City where the recent Revaluation has typically resulted in RV increases of c. 40%. It is not yet clear exactly how this scheme will be administered and whether there will be any limits or restrictions on the amount of relief available to individual properties or businesses; however, it appears likely at this stage that an application will require to be submitted in order to claim this relief. Further details will be issued as and when they become available.
For further information, or any general queries in relation to the 2017 Revaluation contact:
The Business Rates Team at FG Burnett on 01224 572661
Scott Strachan, Head of Business Rates and Taxation –firstname.lastname@example.org
Moira Gordon, Associate, Business Rates and Taxation – email@example.com