Small business rate relief

 

This relief is available to ratepayers who apply to their local authority and who occupy either

(a) one property, or

(b) one main property and other additional properties providing those additional properties each have a rateable value which does not exceed £2,599.

The rateable value of the property mentioned in (a), or the aggregate rateable value of all the properties mentioned in (b), must not exceed £17,999 outside London or £25,499 in London on each day for which relief is being sought. If the rateable value, or aggregate rateable value, increases above those levels, relief will cease from the day of the increase.

Ratepayers who satisfy these conditions will have the bill for their sole or main property calculated using the lower small business non-domestic rating multiplier rather than the national non-domestic rating multiplier that is used to calculate the liability of other businesses.

In addition, if the sole or main property is shown on the rating list with a rateable value which does not exceed £12,000, the ratepayer will receive a percentage reduction in their rates bill for this property of up to a maximum of 50% for a property with a rateable value of not more than £6,000.

If an application for relief is granted, provided the ratepayer continues to satisfy the conditions for relief which apply at the relevant time as regards the property and the ratepayer, they will not need to re-apply for relief in each new valuation period.

Certain changes in circumstances will need to be notified to the local authority by the ratepayer (other changes will be picked up by the local authority). The changes which must be notified are:-

(a) the ratepayer taking up occupation of a property they did not occupy at the time of making their application for relief, and

(b) an increase in the rateable value of a property occupied by the ratepayer in an area other than the area of the local authority which granted the relief.

Notification of these changes must be given to the local authority within 4 weeks of the day after the day on which the change happened. If this happens, there will be no interruption to the ratepayer's entitlement to the relief. A notification that the ratepayer has taken up occupation of an additional property must be by way of a fresh application for relief; notice of an increase in rateable value must be given in writing.

You must make an application for relief and must submit your application for the relief to us within six months of the end of the financial year to which it relates.

If your business ceases to be eligible on a day during the year in question, the relief will cease on that day.

The 'small business rate relief' scheme will be funded by a supplement on the rate bill of those businesses not eligible for the relief. This supplement is built into the standard rating multiplier.

If you meet the conditions set out above please complete the application form and return it to this office at:

The Revenues Department
Lynton House
Commercial Road
Barnstaple
Devon
EX31 1DG

If you have any queries please telephone us on 01271 388361, alternatively you can write to us at the above address or go to our website.

Further information can also be found at www.businesslink.gov.uk a Government-funded site, designed to provide businesses with a single source of clear and concise information on business rates.

Application form for small business rate relief