Small Business Rate Relief
If you occupy business premises you may be eligible for the new Small Business Rates Relief. The relief is effective from the 1st April 2005.
To qualify for the relief the combined rateable value of all business premises occupied must be under £15,000 (London £21,500). If you occupy a main property and additional properties, the individual rateable value of each additional property must be under £2,200.
Eligible businesses with rateable values below £5,000 will get 50% rate relief on their liability.
Rateable values in excess of £5,000 up to £15,000 (London £21,499) will get a progressively lower rate of relief.
If you would like our assistance with an application please call. Applications for the financial year ending 31 March 06 must be submitted by the 30 September 2006.
In Scotland this type of relief was introduced on the 1 April 2003.
Business property occupiers with a rateable value of £10,000 or less are eligible for a discount of between 5% and 50% on the rate poundage. These are the discounts for 2004-2005. You need to make a formal application for relief if you are entitled to more than a 5% discount. You will get the 5% by default.
Unfortunately the Welsh Assembly did not adopt the Small Business Rate Relief, which is therefore not available at this time.