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.
When must I apply?
Ratepayers who meet the criteria must submit an application for the financial years 01/04/2007 to 31/03/2010 before 01/10/2010. This is because an application form must be submitted, in writing, to us within 6 months of the end of the valuation period to which it relates.
From 01/04/2010 ratepayers who meet the criteria can submit an application for for the financial years 01/04/2010 to 31/03/2015. Again, applications will not be accepted for these years after 01/10/2015.
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 from 1 October 2010. Please click on the link below for more information:
Budget Announcement - Temporary Increase in Small Business Rates Relief (.pdf, 64kb)
Further details
Further information on this relief is available on businesslink.gov.uk (external link).
