Business rates based on value of sales, not property

I suggest replacing existing business rates with rates based on annual turnover

Why the contribution is important

If manufacturers and retailers pay business rates based on what they sell- and not on the rateable value of their premises, it might generate a stimulus for the 'High Street', as businesses would pay tax according to their success.
People are in business to sell goods and services and make a profit. So the more they sell, the more profitable, and the more new 'Business Rates' will be payable.

Start-up businesses would not be choked off when overheads are high and income low. Businesses large and small might be encouraged to expand, bringing opportunities for employment.

Based on annual turnover, business rates would always be proportionate to business success.

by Scotchbonnet on May 11, 2020 at 07:33PM

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