Scotland's Economy

Small Business Bonus Scheme

October 28, 2016 by The Scottish Government No Comments | Category Economy

Scotland’s small and medium businesses are fundamental drivers in securing sustainable economic growth, which is why we are doing everything we can to support them by continuing our promise for Scotland to be the best place to do business in the UK.

The Small Business Bonus Scheme can eliminate or substantially reduce the tax paid as business rates (also known as non-domestic rates) for eligible small businesses located in Scotland.

The latest figures show that over 100,000 businesses across Scotland have now saved over £1 billion thanks to the scheme.

Cabinet Secretary for Finance and the Constitution Derek Mackay said:

“The Small Business Bonus Scheme continues to provide significant support year after year – and in total has already saved Scottish businesses well over £1 billion.

“This year a record number of businesses across Scotland, over 100,000, saw their rates reduced or removed entirely under the scheme, forming an important part of our promise for Scotland to be the best place to do business anywhere in the UK. We have committed to expand the Small Business Bonus from 2017 so that it lifts 100,000 properties out of rates altogether, and I will bring forward legislation to achieve that.”

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