Draft Scottish 2016/17 Budget hits large properties

In his 2016/17 Draft Budget Deputy First Minister John Swinney has announced that the supplement used to fund the Small Business Bonus Scheme will double, going from 1.3p to 2.6p. This will mean Scottish properties with a Rateable Value of over £35,000 will pay based on a UBR of £0.51.

Additionally changes were announced to Empty Property Rates. The 100% exemption previously given to vacant industrial properties will now only last for three months before rates become payable at 90%. Commercial properties will now only get 50% relief for the first three months (d0wn from 100%) before rates become payable at 90% of the occupied rate.