To qualify for this relief one of the following conditions must apply:
- You occupy only one business property in England and the rateable value of that property is less than £12,000 (from 2014/15 businesses in receipt of the relief will keep it for an additional year if they take on an additional property that would previously have caused them to lose it); or
- You occupy a main property with a rateable value of less than £12,000 but also occupy other properties (including any car parking spaces) each with rateable values under £2,600 and the total rateable value of all them does not exceed £17,999. Relief can only be awarded on the property with the highest rateable value.
Properties with a rateable value of less than £6,000 receive relief of 50% off their rates. For properties with rateable values between £6,000 and £12,000 relief of between 49% and 1% is awarded, reducing by 1% for every £120 of rateable value above £6,000.
Extra relief from 1 October 2010 to 31 March 2017
The government announced in the Autumn Statement that the doubling of the relief, which was due to end with effect from 31 March 2016, is to be extended to 31st March 2017. Qualifying properties with rateable values under £6,000 will, therefore, receive 100% relief and will have nothing to pay until 1 April 2016.
In addition an increase in the discount for retail premises (including pubs, cafes, restaurants and charity shops) with a rateable value of up to £50,000 from £1000 to £1500 for 2015-16 was announced. This means that for these properties which also receive small business rates relief, and have a rateable value of under £8200, no rates will be payable.
Retail Relief ends on 31st March 2016 and will not be available for 2016/17.
If you believe that you are entitled to small business relief please download, complete and return the declaration in the documents section.
Small Business Rates Relief from April 2017
The Government has confirmed that the doubling of the Small Business Rate Relief from 50% to 100% will be made permanent from 1 April 2017. The £6,000 and £12,000 thresholds will increase to £12,000 and £15,000 respectively. Therefore, hereditaments with rateable values of £12,000 or below that meet the eligibility criteria will receive 100% relief and those businesses with rateable values between £12,001 and £14,999 will receive tapered relief. The taper will operate as at present – with 100% relief for eligible hereditaments with an RV of £12,000 or below, decreasing to 0% relief for hereditaments with an RV of £15,000 or above.
The threshold for the standard business rates multiplier will also increase from a rateable value of £18,000 (£25,500 in London) to £51,000. We will compensate local authorities for loss of income through section 31 grants and will amend the relevant regulations to bring these changes into effect from 1 April 2017.