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Reliefs and exemptions - Small business rate relief
If you run a small business, you could get up to 100% off your business rates through this relief scheme.
Who qualifies?
You may be eligible if:
- Example A - you occupy only one property in England which has a rateable value of less than £15,000. You take on an additional property with a rateable value of £2,900 or above this cannot be disregarded in relation to small business rates relief. From the date you take on the additional property, business rates will become payable for that property. Also, from this date ongoing small business rates relief will end on your main property but we will allow you 1 additional year's small business rates relief. After that year full business rates are also due on your main property unless your circumstances have changed.
- Example B - you have one main property and take on additional properties that do not have individual RVs of more than £2,899 and together a combined RV of all of the properties is under £20,000. In this instance properties with a RV of no more than £2,899 are disregarded, which means that you will pay rates on the additional properties whilst maintaining small business rates relief on your main property. If by taking on an additional property that sees your total rateable value exceed £20,000 small business rates relief on your main property ends immediately.
How is this funded?
The scheme is funded by a small supplement added to the rate bills of businesses not eligible for the relief. However, businesses with RVs between £15,000 and £50,999 don’t pay this supplement and benefit from a lower multiplier when their rates are calculated.
