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Small Business Rate Relief

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You may be entitled to a 50% reduction of your Non Domestic Rate charge if your business occupies a Non Domestic Rated property with a Rateable Value of less than than £6,000.

You can get small business rate relief if:

  •  you only use one property
  • its rateable value is less than £12,000

How much relief do you get?

Until 31 March 2014 you will get 100% relief (doubled from the usual rate of 50%) for properties with a rateable value of £6,000 or less. This means that you won’t pay business rates on properties with a rateable value of £6,000 or less.

The rate of relief will gradually decrease from 100% to 0% for properties with a rateable value between £6,001 and £12,000.

If you have more than one property, you could get small business rate relief if the rateable value of each of your other properties is less than £2,600.

The rateable value of the properties are then added together and the relief applied to the main property.

Should your circumstances change, such as occupation of an additional property or an increase in Rateable Value, you must notify us within 4 weeks or you could lose your relief entitlement.

It is a criminal offence to provide false information when applying for Small Business Rate Relief. If you do so you could be fined, imprisoned or both.

Applying for Small Business Rate Relief

Applications for the financial-years prior to 2010 can no longer be submitted (unless the rateable value of your property is altered and the property subsequently meets the small business rate relief criteria, an application for such relief can be submitted up to six months after the date of alteration).

  • Applications for the financial-years 2010/11 onwards can be submitted up to and including 30th September 2015.
  • If the rateable value of a property is altered and the property subsequently meets with the small business rate relief criteria, an application for such relief can be submitted up to six months after the date of notification of the alteration.
  • All eligible ratepayers whose rateable value is between£12,000 and £18,000 must submit an application under Copeland’s policy in order for their rate bill to be calculated on the small business non-domestic rating multiplier.
  • The application must be signed by the ratepayer or on behalf of the ratepayer. This means, where the ratepayer is a:
  • a partnership, a partner of that partnership;
  • a trust, a trustee of that trust;
  • a body corporate, a director of that body, or in any other case, a person duly authorised to sign on behalf of the ratepayer.

 

Published: 23 May 2012 - 9:22am