Business Rates Relief Small Business Rate Relief You will be eligible for small business rate relief if you generally occupy only one property and your rateable value is below a certain level. The system varies between England and Wales.
Small business rate relief is administered by your local authority.
Small business rate relief in England
You will be eligible for small business rate relief in England if your rateable value is below 18,000 ( 25,500 in London):
If your 2010 rateable value is 6,000 or below, the small business rate multiplier is used and the bill will be reduced by 100%. If your 2010 rateable value is between 6,001 and 11,999 inclusive, the small business rate multiplier is used and the bill will be reduced on a sliding scale - from 0 per cent at the bottom of the range to 100 per cent at the top. For example, if the rateable value is 9,000, the bill will be reduced by 50 per cent. If your 2010 rateable value is between 12,000 and 17,999 ( 25,499 in London), the small business rate multiplier is used only. Between 1 October 2010 and 31 March 2017, eligible ratepayers will receive small business rate relief at 100 per cent on properties up to 6,000 (rather than 50 per cent), and a tapering relief from 100 per cent to 0 per cent for properties up to 12,000 in rateable value for that period.
The temporary Small Business Rate Relief increase will therefore apply throughout the whole of the 2012-17 billing year (until 31 March 2017). The relief was originally doubled by the government until September 2011, but this was extended by the Budget in March 2011, and then extended again in the 2011 Autumn Statement to take account of economic conditions.
For more information on the current small business multiplier, see the page on the current multipliers in our guide: business rates - an overview.
If you have more than one business property, the relief is only available if the rateable value of each of the other properties is below 2,600. If this is the case, the rateable values of all the properties will be combined and the relief is applied to the main property based on the total rateable value.
If you would like to find out more then please contact our London office direct on: 0207 193 1767 .
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