A survey has revealed strong support from the UK’s small business community for measures to simplify business rates.
A total of 71 per cent of small businesses questioned said business rates should be simpler and have a greater degree of flexibility.
Meanwhile, 49 per cent of SMEs said the Government is doing too little to assist with business rate relief, with just 36 per cent satisfied with its efforts.
Of those questioned for the research, carried out by Close Brothers Asset Finance, 56 per cent had seen their bills increase in the last two years.
Neil Davies, CEO of Close Brothers Asset Finance, said: “Steps are being taken, as demonstrated by an initiative that’s been in place from 1 April 2017 that saw 100 per cent relief, doubled from the usual rate of 50 per cent, for properties with a rateable values of £12,000 or less.
“That said, the message from SMEs is clear that more needs to be done.”
He added: “Our study has found that it’s a nuanced picture out there and what I mean by that is that the call for clarity is not driven by cost concerns.”
Chancellor Philip Hammond has previously made concessions following concerns from SMEs. This includes bringing forward the next business rates revaluation from 2022 to 2021.