Emergency regulations are introduced for retrospective business rate payments.

Communities and Local Government secretary Eric Pickles introduced emergency regulations last week to put a halt on demands for “unfair” retrospective business rate payments that affect ports.

Many port operators have been served with backdated business rates bills that reach into the millions after changes to the way rates were calculated in 2008 by the Valuation Office Agency .

Operators warned it would lead to an exodus of port occupiers and damage the UK’s ports industry.

Pickles said that, as an urgent first step, new regulations would suspend unexpected backdated business rate payments, including those for port companies.

The payment freeze will be funded from the £6.2bn public sector savings announced by the chief secretary last Monday.

The government will continue to explore options up to and including primary legislation to offer port companies permanent relief from the “unfair” and an “unjust tax grab”, said Pickles.

“I will not allow government to idly look on any longer as vital businesses stare into the face of insolvency as a result of the ports tax, and today we’re making good on our promise to act.

We are clear that we should be supporting the economy, not forcing people out of business.” [Eric Pickles]

 Source: Property Week .com

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