Record relief rate for small businesses

The Small Business Bonus Scheme (SBBS) provided £254 million in rates relief to almost 119,442 businesses in 2018-19 – a 65% increase since 2008-09, newly-released figures show.

Statistics published today by Scotland’s Chief Statistician reveal that the Programme for Government commitment to lift 100,000 properties out of business rates altogether has been delivered.

This means around 104,000 properties being in receipt of 100 per cent SBBS in 2018-19.

Welcoming the figures Minister for Public Finances Kate Forbes said: “Since its introduction, the Small Business Bonus Scheme has saved businesses in Scotland over £1.7 billion. We offer the most competitive rates reliefs package in the UK. Any announcement on non-domestic rates will be set out in the Scottish Budget in December.

“We are delivering a more supportive business environment focused on delivering a competitive tax system, reducing costs for business and allowing more businesses to get the help they need to flourish by streamlining our enterprise and skills agencies to ensure businesses the right information, advice and support they need.”

Colin Borland, FSB’s director of devolved nations, said: “The Small Business Bonus scheme provides vital rates help for smaller firms up and down Scotland – giving local traders and firms breathing space in a tough trading environment. Smaller firms form the cornerstone of our local economies and by developing the right environment we can give them the best chance to succeed.”