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Accounting services for the new business rates system

Home / Blog Entry / Accounting services for the new business rates system

One of the most welcome parts of the 2016 Autumn Statement was a confirmation of the commitment to lowering the burden of business rates over the next five years.

The financial demands of business rates have, over the last few years, routinely been put forward as one of the main barriers to creating further growth within our economy. Whilst we would not consider it to be our place to comment on the political impact of decisions relating to business rates, we do know that, from our position as one of the leading accountants in Greater London, the changes deliver the potential for greater success across many commercial ventures.

The proposed changes to business rates will need to be absorbed by all affected. If the scope of the changes was limited to a flat rate adjustment this would not present too great a challenge. Whilst this is to be the net result of the changes, in real terms there is quite a significant overhaul of the entire system taking place.

The first exposure to the change will be with the introduction of a transitional system in April 2017. It is anticipated that this will be a difficult period for businesses to navigate through alone.

Businesses within our area of operation do not, however, have to attempt incorporating the changes alone. We have closely monitored the course of the proposed changes and have ensured that our services are up to date in respect of what’s needed to meet the new requirements.

At the present time we are involved in an ongoing process of understanding the transitional period requirements. As a result we can ensure that our clients remain informed as to how to be in the best position possible.

We are committed to providing a complete, comprehensive and supportive service to our valued clients. Over the years we have remained at the forefront of accountancy in Greater London by ensuring we are proactive and responsive to all changes which may affect businesses. In this respect we are ready to help businesses be in the most preferential position possible with respect to the changes made in the Autumn Statement.