Eligible businesses with rateable values below £6,000 will get 50% rate relief on their liability and have their rates bill calculated using the lower small business non-domestic rating multiplier. The relief will decrease on a sliding scale of 1% for every £120 of rateable value over £6,000 up to £11,999.
Eligible businesses with rateable values between £12,000 and £17,999 will have their liability calculated using the lower small business multiplier.
Who qualifies?
a) Ratepayers who occupy only one property in England and the rateable value is less than £18,000 (£25,500 within London) on each day for which relief is being sought;
or
b) Ratepayers who occupy more than one property in England and the combined rateable value is less than £18,000 (£25,500 within London) and only one property has a rateable value greater than £2,599.
If the rateable value of a property is altered and the property subsequently meets with the small business rate relief criteria, an application for such relief can be submitted up to six months after the date of notification of the alteration.
Budget Announcement March 2010
On 24 March 2010 the Chancellor of the Exchequer announced that the Government will temporarily increase the level of SBBR for one year from 1 October 2010 to 30 September 2011. Please click on the link below for more information:
Budget Announcement March 2011
On 23 March 2011 the Chancellor of the Exchequer announced that the Government will be extending the temporary increase in the level of SSBR for a further year from 1 October 2011 to 30 September 2012. Please click on the link below for more information:
Chancellors Autumn 2011 Announcement
On 29 November 2011 the Chancellor of the Exchequer announced that the Government will be extending the temporary increase in the level of SBRR for a further 6 months from 1 october 2012 to 31 March 2013
Further details
Further information on this relief is available on businesslink.gov.uk (external link).
