Those businesses which qualify:
- will have their bills calculated using the lower 'small business multiplier'
- may receive a 'percentage reduction' of their bill if the rateable value does not exceed £12,000
- must tell us if you occupy an additional property
- must notify us if the rateable value of your properties outside of our area increases
- will not get SBRR if you're in receipt of charity/rural relief
- will not get SBRR if the property is empty (bills will be calculated using the 'standard multiplier')
- will not get SBRR from the increase date, if your rateable value increases above the maximum level
Small business rate relief from 1 April 2012 to 31 March 2016
For the current Rating List, see the VOA website.
Only one application is needed to cover periods from 1 April 2012 to 31 March 2016 (for properties with a rateable value of below £12,000).
Small business rate relief from 31 March 2016 to 31 March 2017
If you occupy:
- only one business property with a rateable value of £6,000 or below you'll receive 100% relief - you will need to apply for this
- only one business property with a rateable value between £6,001 and £11,999, you'll receive a 'tapered level of relief' (between 100% and 0%) - you will need to apply for this
- more than one business property, you'll receive a 'percentage reduction' if the rateable value of each property is below £2,600, and the combined value is below £18,000 - the total is calculated from all such rateable values, and the relief applied to the main property
Changes to small business rate relief from 1 April 2017
From 1 April 2017, small business rate relief was permanently doubled from 50% to 100%, and thresholds were increased to benefit a greater number of businesses.
Therefore, from April 2017:
- businesses with a property with a rateable value of £12,000 and below receive 100% relief
- businesses with a property with a rateable value between £12,000 and £15,000 receive relief on a sliding scale
- the threshold for the standard business rates multiplier increased to a rateable value of £51,000
Backdated small business rate relief
Currently you can apply for small business rate relief at any time during the current valuation period and for a further 6 months after the end of this period. You can also apply up to 6 months after the date you tell us about a change in your property's rateable value, which means the property would be eligible for relief if this is later.
However, the maximum period we can backdate small business rate relief is 6 years.
Small business rate relief on second properties
In its Autumn Statement in December 2013, the government announced that it will relax the rules to allow businesses in receipt of SBRR taking on an additional property to retain SBRR on the first property for one year, with effect from 14 February 2014.