Future review of national business rates to help salons
The National Hairdressers' Federation has welcomed the forthcoming reform to business rates, announced last week by Treasury chief secretary Danny Alexander, but reminds salons to take advantage of rate relief coming into play with the start of the new tax year on April 1.
The broad scale review of business rates, set to be ready before the 2016 Budget, will aid small businesses, such as hairdressing salons and barber shops.
National Hairdressers’ Federation chief executive, Hilary Hill said, “We still have a long time to wait until the archaic, unfair system of business rate which is currently calculated on the value of a physical shop or commercial property is changed. But we’re very pleased that the government has listened to our campaign calling for fundamental reform.”
Alexander launched the review during a speech to local businesses in Cambridge. He commented, “Our system of business rates was created nearly 30 years ago and since that time, the worlds of commerce and industry have changed beyond recognition”, Alexander said. “The government has taken measures to help businesses by capping rates and introducing reliefs for smaller businesses. But now the time has come for a radical review of this important tax. We want to ensure the business rates system is fair, efficient and effective”.
The NHF has also reminded salons about the rate relief available to them from next month, including a £1,500 discount on rates for premises with a rateable value of £50,000 or less, and the small business rate relief being doubled for a further year until March 2016.
NHF president Paul Curry said, "It's important that salons make the most of the increased reliefs available to them from April 1 2015."