Essex FSB (Federation of Small Businesses) has welcomed a Government decision which means 45 firms in Tilbury will have backdated business rates totalling more than £5.257m frozen.
Essex FSB spokesman for Thurrock, Ross Bannister, said: “These Tilbury based companies faced having to pay £5,257,575 in backdated business rates after the Valuation Office changed the way if calculated business rates in 2008.
“Such massive amounts of backdated business rates came as a major shock to the firms involved and badly affected their cash flow so Essex FSB is very pleased that the new Secretary of State for Communities and Local Government, Eric Pickles, has acted rapidly to freeze demands for payments and is now looking at ways of axing the backdated rates bills completely.
“That decision not only helps the 45 firms which received these bills but also other local firms which are in their supply chain.
“Essex FSB welcomes this first step and looks forward to a permanent solution being found for this problem.”
