Seven out of 10 business properties in Scotland will pay the same rates or less next year, with half paying nothing at all, says the Scottish finance secretary.
According to Derek Mackay, a Small Business Bonus Scheme will mean 100,000 properties will pay no rates at all next year and a further 3,500 properties will benefit from 25% relief.
Mr Mackay said this means around 9,000 properties will be up to £7,000 a year better off than their equivalents in England.
The Scottish government is also planning on cutting the tax rate that applies to a property’s rateable value by 3.7% to 46.6 pence in the pound and increasing the threshold for the large business supplement.
‘These actions worth £155m, with an overall package of reliefs worth £600m, mean seven out of ten business premises in Scotland will pay either the same rates or less next year – with more than half paying nothing at all,’ said Mr Mackay.
‘Before the new property values came out I took action to support business. Since then I have been listening to firms across Scotland and today I will set out further steps to support Scotland’s economy.’
