This is available at 100% for ratepayers occupying single properties with an RV of less than £12,000, with relief reducing on a sliding scale to 0% at RV £15,000.
To qualify, the ratepayer must have:
- only one property in England of RV less than £15,000, or
- one main property and additional properties with RVs of less than £2,900. The total RV must not exceed £20,000.
For businesses that take on an additional property which would normally have meant the loss of small business rate relief, the government has confirmed it will be allowed to keep that relief for a period of 12 months.
The scheme is funded through a supplement on the rate bills of businesses not eligible for the relief. The supplement is built into the standard non-domestic rating multiplier. However, ratepayers with RVs of between £15,000 and £50,999 do not contribute and have their bills calculated using the lower small business rating multiplier.