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Small Business Rate Relief
The Small Business Rate Relief scheme became effective on 1 April 2005, with the aim of alleviating the impact of business rates on small firms.
The scheme offers 50% rate relief to business properties with a rateable value of under £5,000.
The relief then decreases on a sliding scale of 1% for every £100 of rateable value, reaching 0% at £10,000.
The scheme is available to ratepayers with more than one property, provided that the additional properties have rateable values of less than £2,200, and the combined rateable value of all of the properties is under the appropriate threshold.
There is also a 'buffer zone' for properties with rateable values of between £10,000 and £15,000 which meet the eligibility criteria.
To qualify for the relief, properties must be on the local rating list on 1 April of each year, and business owners must apply to their local billing authority within six months of the end of the chargeable year.
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