Small Business Rate Relief
In the Autumn Statement, it was announced that the temporary increase in Small Business Relief which was due to end on 31 March 2013, has been further extended to 31 March 2014. During this period eligible businesses with rateable values below £6,000 will get 100% rate relief on their liability. This relief will decrease on a sliding scale of 1% for every £60 of rateable value over £6,000, up to £11,999. Between £12,000 and £17,999 rateable value, the small business non-domestic rating multiplier will be used to calculate your bill. There are no other adjustments to the Scheme.
On 1 April 2014, the figures will revert to those shown below.
Eligible businesses with rateable values below £6,000 will get 50% rate relief on their liability. This relief will decrease on a sliding scale of 1% for every £120 of rateable value over £6,000, up to £11,999. Between £12,000 and £17,999 rateable value, the small business non-domestic rating multiplier will be used to calculate your bill.
This relief is available to ratepayers who occupy either:
An application for Small Business Rate Relief is not required. Where a ratepayer meets the eligibility criteria and has not received the relief they should contact their local authority. Provided the ratepayer continues to satisfy the conditions for relief which apply at the relevant time as regards the property and the ratepayer, they will automatically continue to receive relief in each new valuation period.
Certain changes in circumstances will need to be notified to the local authority by the ratepayer within four weeks of the change in circumstances. The changes which must be notified are:
(a) you take up occupation of a property that you did not occupy at the time of making the application for relief; and
(b) an increase in the rateable value of a property which you occupy in an area other than the area of the local authority which granted the relief.
Notification of these changes must be given to the local authority within 4 weeks of the day after the day the change happened. If this happens, there will be no interruption to your entitlement to the relief. Failure to notify the authority within this time frame will mean you will cease to be entitled to the relief with effect from the day that the change happened. If you are still eligible, you will be entitled to the relief again with effect from the day that you notify the local authority. A notification that you have taken up occupation of an additional property must be by way of a fresh application for relief; notice of an increase in rateable value must be given in writing.
If the change of circumstances is such that you will no longer be eligible for the relief, e.g. because you occupy a new hereditament with a rateable value above the £2,600 threshold, relief would end from the date of change.
You can download a Small Business Rate Relief Application Form.