Ratepayers who occupy a property with a rateable value which does not exceed £50,999 (and who are not entitled to other mandatory relief or are liable for unoccupied property rates), will have their bill from 1 April 2017 calculated using the lower small business multiplier, rather than the national non-domestic rating multiplier.
Business Rates Multipliers
||Small Business Multiplier
For a property with a rateable value of not more than £12,000, the ratepayer will receive a 100% reduction in their rates bill. For a rateable value between £12,001 and £14,999, the ratepayer will receive a percentage reduction in their rates bill.
Generally this percentage reduction (relief) is only available to ratepayers 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 £2,899.
The rateable value of the property mentioned in a), or the aggregate rateable value of all the properties mentioned in b), must not exceed £19,999 outside London or £27,999 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.
What if your property is empty?
Small Business Rate Relief does not apply to empty properties.
What if you are already claiming other rate reliefs?
If you are in receipt of another mandatory rate relief, for example Charitable or Rural Rate Relief, you will not be entitled to Small Business Rate Relief.
What if you have additional properties?
If your business occupies any additional properties, each of the additional properties must have a rateable value of less than £2,900, and the total rateable value of all of the business properties must be less than £20,000.
Apply for Small Business Rates Relief
If you wish to apply for Small Business Rate Relief please complete and return our online Small Business Rate Relief form