Business rates retention under the Local Government Finance Act 2012
From 1 April 2013 a new system has come into being, allowing local authorities to retain up to 50 per cent of the income they receive from business rates. Supposedly simpler than the previous regime of formula grant, the new scheme is still very complicated. As we recently had to advise on a particular aspect of it and so had to gain a broad understanding of how it works, we thought we would share our findings with you, should you ever need a ‘dummies guide’…
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HMRC has updated Notice 700/56 (the Notice), sections 2 and 17 of which refer to LPA receivers.
The relief is available at the discretion of the relevant local authority under the powers granted to it at section 47 of the Local Government Finance Act 1988.
Analysis from The Lawyer
New EU rules and lawyers’ increased comfort with digital formats are sparking a sea-change in the way law firms manage their documents
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