Rates appeals save companies £25m

ALMOST 2,000 companies have had more than £25million slashed from their rates bills.

More than 73,000 firms had challenged assessors on rises of up to 400 per cent following the first revaluation of business rates last year since 2010.

Nearly 68,000 are still waiting for appeals to be finalised.

Finance Secretary Derek Mackay was forced to step in to cap rises for thousands of firms – but many bosses lodged appeals over fears the relief could be withdrawn.

The cap will remain in place next year, but there is no guarantee of how long it will continue.

Yesterday, the Scottish Government published an update on the appeals procedure. Of the 73,577 appeals, only 5,673 have been resolved. Of these, 1,870 firms have had £25.2million cut from their bills. But 3,803 had the appeals rejected.

Scottish Tory finance spokesman Murdo Fraser said: ‘Delayed decisions on business rates appeals are undermining Scotland’s high streets and small businesses. The situation is deteriorating fast, with too many businesses waiting too long for a decision, causing uncertainty and cash flow issues.

‘It is abundantly clear the SNP is only interested in taxing businesses and is actively contributing to the steep decline of our retail businesses and high streets.

‘The SNP must speed up business rates appeals, support Scottish small businesses and work with them to secure a vibrant future.’

A Scottish Government spokesman said: ‘Data shows valuation appeals progress for the 2017 revaluation is broadly in line with what would be expected. It will not affect the amount of funding local authorities will receive.’