Small Business Rate Relief Scheme
St Annes Business
Information about the Small Business Rate Relief Scheme.
BUDGET ANNOUNCEMENT MAR 11- FURTHER ONE-YEAR INCREASE IN SMALL BUSINESS RATE RELIEF - please see the latest Budget Announcement Information.
A property does not have to be in the Rating List on 1st April to qualify as it will qualify for the Relief (if applicable) from the date it is brought into Rating.
These notes are intended to give a helpful outline of the Small Business Rate Relief Scheme, but they should not be regarded as a complete guide to the law.
What Small Business Rate Relief is available?
Eligible properties with a Rateable Value of up to £6,000 with effect from 1 April 2010 receive 50% rate relief. This percentage decreases on a sliding scale where the Rateable Value is above £6,000 and up to a Rateable Value of £11,999. In addition the rate bill will be calculated using the lower Small Business Non-Domestic Rating multiplier rather than the Non-Domestic Rating Multiplier which applies to non-eligible properties.
Eligible properties with a Rateable Value from £12,000 up to £17,999 (outside Greater London) will not receive a percentage reduction but their rate bill will be calculated using the Small Business Non-Domestic Rating Multiplier rather than the Non-Domestic Rating Multiplier which applies to non-eligible properties .
What is the Eligibility Criteria?
The property must be shown in the Rating List on 1 April of the financial year for which relief is applied for and with a Rateable Value within the thresholds above. A qualifying new property is eligible for the relief from the day it was brought into rating.
The property must meet the criteria on every day for which eligibility is claimed.
The relief is only available to ratepayers who occupy either
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only one property, or
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one main property and other additional properties providing those additional properties have Rateable Values less than £2,600 and the total Rateable Value of all the properties remains under the appropriate threshold (i.e. £18,000 outside Greater London or £25,499 inside Greater London). Relief is only available on the main property and not the additional properties.
Small Business Rate Relief is not available to ratepayers who are receiving either mandatory Rural Rate Relief or mandatory Charitable Relief.
