Posted on 12th September 2016
Category: BlogsYou can get small business rate relief if:
- you only use one property
- your property’s rateable value is less than £12,000
Contact your local council ( see below) to apply for small business rate relief.
What you get
You’ll get 100% relief (doubled from the usual rate of 50%) until 31 March 2017 for properties with a rateable value of £6,000 or less. This means you won’t pay business rates on properties with a rateable value of £6,000 or less.
The rate of relief will gradually decrease from 100% to 0% for properties with a rateable value between £6,001 and £12,000.
From April 2017, rate payers that occupy a single property with a rateable value of £12,000 or less will pay no business rates with a gradual tapering reduction for properties between £12,001 and £15,000.
You have more than one property
You can get small business rate relief if the rateable value of each of your other properties is less than £2,600.
The rateable values of the properties are added together and the relief applied to the main property.
You’ll keep getting any existing relief for one year when you get a second property.
You’re a small business but don’t qualify for relief
If your property has a rateable value below £18,000 (£25,500 in Greater London) you’re considered a small business.
Even if you don’t qualify for small business rate relief, your business rates will be calculated using the small business multiplier instead of the standard one. This is the case even if you have multiple occupied properties.
The multiplier shows the percentage (pence in the pound) of the rateable value that you pay in business rates. You can see a list of current multipliers on theValuation Office Agency (VOA) website.
Local Council Business Rate Details
Find out details on how to pay your business rates, apply for available discounts, reductions, relief and much more from the areas local councils.