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Business rates slashed employers

 

Borough firms will have their business rates cut if they pay the London living wage, following a decision by Hounslow Council.

Businesses will be able to apply for up to a £5,000 discount on their rates from 1 April 2015.

Cllr Theo Dennison, cabinet member for finance and citizen engagement, said: “London is a world class city but it’s also massively expensive, which leaves many people in the capital struggling to make ends meet. It’s why it’s so important that firms pay the London Living Wage, and why we are giving a helping hand to those who do.”

The proposal is to offer a one-off discount equivalent to the cost of five years of accreditation to companies who become accredited with the Living Wage Foundation between 1 April 2015 and 31 March 2018. This will be a one-off credit to their National Non-Domestic Rates account.

The London living wage has been set at £9.15 an hour for this year.

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