Port rates backdating
None of the businesses could have foreseen what was coming, so had no chance to pass on the extra costs to their customers. Which may explain why it has been inundated with hundreds of appeals from the freshly-rated new companies, outraged at the size of their bills. His two small businesses in the Port of Goole on the Humber have received a backdated bill of just under £1m and an ongoing liability of £350,000 a year – somewhat hefty for businesses with a joint annual turnover of just £2.5m.
As you manage your investment portfolios, PORT will help you leverage Bloomberg’s vast securities database to analyze your portfolio’s current and historical characteristics.As the occupation of a port is clearly of some benefit to the occupier, there is not likely to be any issue in relation to the third point.On Monday, 5 March Parliamentary Under Secretary of State for Communities and Local Government, Bob Neill MP, visited Associated British Ports’ (ABP) Port of Ipswich to promote the introduction of the Localism Act, which provides the statutory instrument to enable the write-off of backdated rates for port-based businesses.Meeting with Nick Ridehalgh, ABP Port Director Short Sea Ports; Alastair Mac Farlane, ABP Port Manager East Anglia; and David Rumsey, Finance Director Clarkson Port Services, Mr Neill discussed the implications of the Act, saying: “For too long this unfair backdated port tax took its toll on the ports industry, with unexpected million pound bills damaging the businesses at the foundation of this country’s import and export infrastructure.“The Government took swift action to reverse these effects – our freeze on paying the backdated tax helped prevent job losses and let companies plan for the future.And from 31st March, affected businesses in ports and across England can, at last, breathe a sigh of relief as our action to waive their bills is completed.“Now the looming threat of the unfair backdated port tax is finally behind us, I’m confident that the industry can move forward with putting that money to its rightful use – to build up their businesses, retain jobs and benefit from international trade.”Mr Ridehalgh explained that the move has been welcomed by ABP and its customers, and thanked Mr Neill for his efforts: “We were delighted to welcome the Minister to the Port of Ipswich for a second visit.
Pursuant to the Local Government Finance Act 1988, there are three categories of ratepayer: 1) owners; 2) occupiers; and 3) persons named in central rating lists.