Small nurseries to benefit from a cut in business rates
According to yesterday’s budget small nurseries are set to see a reduction in business rates. This proposed change will mean that nursery owners who operate from a property with a rateable value of less than £15,000 will receive 100 per cent relief.
This has risen from the current £6,000 threshold, meaning nursery owners will see a new tax break.
Courtney Donaldson, head of childcare at specialist business property adviser Christie & Co, said, ‘We welcome the Chancellor’s announcement in relation to the proposed changes to Business Rates and that the small business rates relief threshold will rise from £6,000 to £15,000.
‘The announcement means that for day nursery owners, those that trade from properties with rateable values of less than £15,000 will receive 100 per cent relief, which means that nursery managers of such settings will not be required to pay business rates.’