Businesses with rateable values of below £6,000 will get 50% rate relief. This relief will decrease on a sliding scale of 1% for every £120 of rateable value over £6,000, up to £12,000. Properties with a rateable value between £12,000 and £18,000 will be eligible to pay on a lower multiplier. The relief is available to ratepayers with either:
- One property or
- One main property and other additional properties, providing the additional properties do not have individual rateable values of more than £2,600 and the combined rateable value of all the properties is under £18,000
Unoccupied properties do not qualify for small business rate relief.
Once you have applied for this relief it remains on your account, however if you have any change in circumstances like taking on an additional property, you must ensure you advise us within 4 weeks.
If you consider yourself eligible for this relief, please complete and return the small business rate relief form as soon as possible and in any case within six months of the end of the financial year to which it relates.
Stop Press!!
The Chancellor made an announcement on 24th March 2010 as part of his budget statement which will mean those currently receiving 50% relief will receive 100% for the period 1st October 2010 to 30th September 2011. Those receiving relief between £6,000 and £12,000 will receive twice as much relief as before! Letters will be issued during April to confirm this. We will amend your bills in October to confirm this increased reduction. In the meantime you must pay as per your current bill.