Budget 2016: Small retailers set to benefit

Business rates will be cut for businesses that occupy a property with a value of £6,000 or less

As part of this year’s budget, George Osbourne announced that business rates will be cut for businesses that occupy a property, such as a shop, with a value of £6,000 or less.

The 100% relief was welcomed by many – the Chancellor acknowledged this would relieve 600,000 small businesses – although some criticised the move, saying that it would not be enough to help UK high streets.

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