Starting April 2025, firms in Scotland with larger premises will pay £54.7 million more in taxes compared to similar businesses in England. This has prompted the Scottish Retail Consortium to advocate for equality in rates and a new 'Poundage Rate Lock.' The differential in Higher Property Rate will be set at 1.3p per pound, affecting various sectors including shops and hotels. Despite some budget relief, the overall rates remain at a 26-year peak, challenging Scotland’s commercial competitiveness.
Firms occupying larger premises in Scotland face a disproportionate £54.7 million higher tax burden compared to similar-sized businesses in England, worsening competitive dynamics.
The Higher Property Rate, impacting substantial commercial properties, raises significant concern as rates disparity undermines confidence in the Scottish retail sector's competitiveness.
#scottish-retail-consortium #higher-property-rate #tax-burden #commercial-property-rates #scotland-vs-england
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