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Can I qualify for small business rate relief?

This is a scheme to help small businesses get up to 100% off their bill.

The government have announced changes to small business rate relief from 1 April 2017.
The new criteria are:

  • Qualifying businesses with a property with a rateable value of £12,00 and below receive 100% relief
  • Qualifying businesses with a property with a rateable value between £12,001 and £15,000 receive relief on a sliding scale

This relief is only available on one main property to rate payers who apply to their local authority and who occupy either - 
(a) one property with a rateable value less than £15,000
(b) one main property and other additional properties providing those additional properties each have a rateable value which does not exceed £2,899 and the total value of all properties does not exceed £19,999 

The additional properties cannot qualify for this relief.

If your property has a rateable value below £51,000 your bill will be calculated using the small business multiplier (46.6p 2017/18) as opposed to the standard multiplier (47.9p 2017/18)

Prior to 1 April 2017 the scheme thresholds were:

  • Qualifying businesses with a property with a rateable value of £6,000 and below receive 100% relief
  • Qualifying businesses with a property with a rateable value between £6000 and £12,000 receive relief on a sliding scale

This relief is only available on one main property to rate payers who apply to their local authority and who occupy either -

(a) one property with a rateable value less than £12,000
(b) one main property and other additional properties providing those additional properties each have a rateable value which does not exceed £2,599 and the total value of all properties does not exceed £18,000 

The additional properties cannot qualify for this relief.

It is still possible to make an application for backdated relief under the old system back to 1st April 2010. After 30th September 2017 this will change with the maximum an application can be backdated to limited to 1st April 2012

If you are not sure what the rateable value of your property is it is shown on your bill or can be found at the Valuation Office Agency.

You can apply for small business relief.

If you have any query please contact Business Rates.

 

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