If the property has a rateable value of less than £15,000 you may qualify for Small Business Rate Relief (SBRR). The property must be in the rating list, supplied by the Valuation Office Agency, on 1st April of the year for which an application is made.
For example; if your property appeared in the rating list on 1st April 2007, you could qualify for SBRR for 2007/08. However, if your property does not appear in the list until 1st May 2007, you would not qualify for SBRR until 2008/09.
To qualify for SBRR the ratepayer must:
The rateable value of a single property or the aggregate total value of all the properties must be less than £15,000 (or £21,500 within Greater London).
Businesses who qualify and whose rateable value is less than £5,000 would get 50% relief. This will decrease on a sliding scale of 1% for every £100 below £10,000 rateable value. If the rateable vlaue is between £10,000 and £14,999 the bill would be calculated using a lower multiplier than non-qualifying businesses.
Businesses must apply in writing each year and there are time limits on how long you have to apply so please don’t delay - apply as soon as you can. You can get further information on Small Business Rate Relief and do a trial calculation by visiting the My Business Rates website.
Please note: If your business qualifies for Mandatory Charity Relief , Mandatory Rural Rate Relief or Mandatory Former Agricultural Premises Relief you cannot get SBRR as well.
Download an application form here
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