Supporting small business relief
A scheme of relief has been made available to those ratepayers facing large increases as a result of the loss of small business or rural rate relief from 1 April 2017.
The current transitional relief scheme does not provide support in respect of changes in reliefs, only substantial increase/decreases in rateable value. Therefore, those ratepayers who are losing some or all of their small business or rural rate relief may be facing very large percentage increases in bills from 1 April 2017.
The supporting small businesses relief will help those ratepayers who as a result of the change in their rateable value at the revaluation are losing some or all of their small business or rural rate relief and, as a result, are facing large increases in their bills. To support these ratepayers, the supporting small businesses relief will ensure that the increase per year in the bills of these ratepayers is limited to the greater of:
- A cash value of £600 per year (£50 per month). This cash minimum increase ensures that those ratepayers currently paying nothing or very small amounts are brought into paying something, or
- The matching cap on increases for small properties in the transitional relief scheme (Year 1 5%, Year 2 7.5%, Year 3 10%, Year 4 15% and year 5 15% + Inflation)
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