Small Business Rates Relief came in to effect on 1st April 2005. All qualifying businesses will have their Business Rates calculated using the Small Business Rate Multiplier.
The scheme is funded through a supplement on the Business Rate bills of those businesses not eligible for relief and this supplement is built in to the standard multiplier. (The supplement for 2007/2008 is £0.003).
Criteria for relief
Small Business Rates Relief is available to ratepayers who occupy either:
In addition to this:
Applications for 2007/2008
The closing date for applications in respect of the financial year 2007/2008 is 30th September 2008.
NB: If there is a change to the rating list applications must be made within six months of the date of this change.
Amount of Relief
Relief is available at 50% for ratepayers with a rateable value of up to £5000. This declines in percentage terms on a sliding scale until it is 0% at £10,000. Approximately 1% of relief is lost for every £100 over £5000.
Properties with rateable values from £10,000 to £14,999 who meet the criteria will have their Business Rates calculated using the lower multiplier.
An application form for the relief can be accessed below. Please ensure you complete the correct form as the Legislation governing small business rates relief changed for the 2007/08 year and we are unable to accept the wrong form.