SMALL BUSINESS RATE RELIEF EXTENDED
MORE GOOD NEWS FOR SMALL BUSINESSES
To assist with the economic recovery the Government has continued the business rate relief that small businesses receive. There are also new provisions allowing the relief to continue even if there are additional premises.
How does it work?
- If your business occupies one property that has a rateable value of £6,000.00 or less then you are entitled to 100% business rate relief until 31st March 2015.
- If you occupy one property for your business you can get some business rate relief if the rateable value is between £6,000.00 and £12,000.00. The amount reduces from 100% at £6,000.00 to 0.
- Previously, if you subsequently occupied an additional property, eg, if you opened a new shop or office, you would then lose the previous business rate relief you were entitled to. The new regulations mean that, for the first 12 months, you don’t lose the relief on the existing property.
- You must apply for this business rate relief to your local Council.
What to do next.
If you occupy only one property check the rateable value. If it is £12,000.00 or less then you are probably eligible for business rate relief and you should apply immediately.
For more information, and any other advice about the legal issues affecting your property please telephone 0116 2121000 or email firstname.lastname@example.org.View all