Small private nurseries stand to benefit from a reduction in taxing trade properties, announced in yesterday’s Budget.
The Business Rates tax on business properties will now only apply to businesses renting properties with rateable values over £15,000.
This is a significant rise from the current £6,000 threshold, so will offer many nursery owners a new tax break.
Local authorities will lose revenue as they collect the levy, similarly to council tax.
Courtney Donaldson, head of childcare at specialist business property adviser Christie & Co, said, ‘We welcome the Chancellor’s announcement in relation to the proposed changes to Business Rates and that the small business rates relief threshold will rise from £6,000 to £15,000.
Register now to continue reading
Thank you for visiting Nursery World and making use of our archive of more than 35,000 expert features, subject guides, case studies and policy updates. Why not register today and enjoy the following great benefits:
What's included
-
Free access to 4 subscriber-only articles per month
-
Unlimited access to news and opinion
-
Email newsletter providing activity ideas, best practice and breaking news
Already have an account? Sign in here