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Scottish Budget Statement | Rating News

In December, the Scottish Deputy FM John Swinney made his Budget Statement which included laying out the Scottish Government’s plans for non domestic rates for the forthcoming financial years, the budget document can be found here whilst a summary from Colliers can be found below:

  • Poundage Rates The basic property rate poundage has been frozen at the 2022 level until April 2024 and the threshold for payment using the higher rate poundage has been increased from £95K to £100K, which is now as follows:
  • 2023/24     Rateable Value Range

49.8p             0>51,000
51.5p             51,001>100,000
52.4p             100,001+

  • Small Business Bonus Scheme to be reformed, with extended eligibility for this relief whilst introducing a tapered scheme and increasing the upper threshold for qualifying properties from £18K to £20K. More details here.
  • Empty Property Relief To be devolved to local authorities on 1 April 2023 with regulations in place to empower councils to tackle rates avoidance.
  • Transitional Relief Introduced for this revaluation cycle with phasing increases in rateable value
  • Fresh Start Relief Expanding Fresh Start relief by raising the qualifying rateable value threshold from £95K to £100K. Properties already in receipt of Fresh Start relief on 31 March 2023 will also continue receiving relief for the remaining duration regardless of whether the new rateable value is above the new qualifying threshold.
  • Business Growth Accelerator Updated Business Growth Accelerator relief to account for the revaluation. Properties in receipt of this relief on 31 March 2023 will continue to be eligible for an equivalent percentage of relief on any new rateable value for the remaining duration of the relief.
  • Day Nursery Relief Extended indefinitely
  • Plant and Machinery Relief New exemptions to be implemented, whereby machinery used onsite for renewable energy generation and storage will be exempt from rates
  • Enterprise Area Relief Extended by one year to 31 March 2024.

Colliers commented that “Whilst the freezing of the poundage rates and the extension and retention of relief schemes is welcome, unlike in England the Scottish Government did not provide targeted assistance for the retail, hospitality and leisure sectors who continue to struggle under the current economic backdrop.

In addition, having reviewed the recently issued Draft Valuation Roll, at first glance many ratepayers may be content where they have seen a decrease in their rateable values, however our initial analysis would suggest there are significant numbers of properties which remain overvalued.”

The BID will continue share any information received in relation to business rates

David Anderson

David was a partner in the local aggregate business Hamilton & Brydie and had been a Director of the business for almost 20 years. Hamilton & Brydie was sold recently and David is now the owner and Director of Anderson Properties (Scotland) Ltd.

Ali Davidson

Ali has 25 years’ experience in local economic development, firstly as Property Manager and then Assistant Director at STEP in Stirling. Ali then joined Ceteris in Alloa where she managed the Business Development team, delivering Business Gateway support in Clackmannanshire. Ali’s current role is Team leader, Economic Development at Clackmannanshire Council, overseeing employability programmes, UKSPF projects, and other economic development activity. Ali has a BA (Hons) degree in Economics, Post Graduate Diploma in Facilities Management and SFEDI Diploma in Business and Enterprise Support.

William Marlin

William is a Director at 123v LTD, a family run business which was established in the 1990s that specialises in carport and canopy design and install. He studied Law & Management and was involved in property renovations for many years. In 2015, he joined the family business where he works in Sales and Marketing as well as general management.

Doug Moodie (BA FCCA DipM)

Doug is a Chartered Accountant and Management Consultant having worked predominantly in Financial Services. 

He was appointed by Scottish Government in 2022 as Chair of Care Inspectorate in Scotland, Director of NHS Healthcare Improvement Scotland and Director of Scottish Social Services Council (SSSC) and has been Chair of Children’s Panel in Falkirk for over ten years. Doug is passionate about young people and is the owner of Kidz World Nursery Ltd in Alloa and Stirling. Doug is also Managing Director of various property companies involved in Lettings, Holiday Homes, Development and Property Factoring.