From April 2017, small businesses that occupy properties with a rateable value of £12,000 or less will pay no business rates. Local authorities are leaving claims to reduce rate bills to the ratepayers and few are claiming.
There will be a doubling of Small Business Rate Relief (SBRR) from 50 percent to 100 percent and an increase of the thresholds to benefit a greater number of businesses. Businesses with a property with a rateable value of £12,000 and below will receive 100 percent relief. Businesses with a property with a rateable value between £12,000 and £15,000 will receive tapered relief. 600,000 small businesses, occupiers of a third of all properties, will pay no business rates at all – a saving worth up to £5,900 in 2017-18. An additional 50,000 will benefit from tapered relief.
The threshold for the standard business-rates multiplier will increase to a rateable value of £51,000 taking 250,000 smaller properties out of the higher rate. This will reduce business rates for many small businesses.
If you are unclear, please call for and advice on 0161 476 8276 or email
Posted 9th January 2017