Property industry welcomes rates reform
The Scottish Property Federation welcomes a step towards reducing the large business supplement on business rates, as announced in today’s Scottish draft budget, but calls for further action to attain parity with England.
David Melhuish, Scottish Property Federation Director comments:
“The decision to reduce business rates burdens for 9,500 ratepayers in Scotland is a welcome step towards meeting the Barclay Review’s recommendation on the large business supplement.
“However, a full realignment with England is needed to reduce the current disadvantage faced by some Scottish ratepayers.
“The introduction of an additional tax rate on commercial property leases is also disappointing. This new charge will add further tax and complications to businesses for relatively little return to the Scottish Government.”