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Small Business Rates Relief

According to Gov.uk you can get small business rates relief if you only have one business property and its rateable value is under £12,000.

Here’s a summary of the relief on offer:

Current relief on offer:

Until 31 March 2015 you’ll get 100% relief (doubled from the usual rate of 50%) for properties with a rateable value of £6,000 or less. This means 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.

What if you have other properties?

You could still get small business rate relief if the rateable value of each of your other properties is less than £2,600.

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

Larger businesses

If your property has a rateable value below £18,000 (£25,500 in Greater London) you’re considered a small business.

Even if you don’t qualify for small business rate relief, your business rates will be calculated using the small business multiplier instead of the standard one. This is the case even if you have multiple properties.

The multiplier shows the percentage (pence in the pound) of the rateable value that you pay in business rates. You can view a list of current multipliers on the Valuation Office Agency (VOA) website.

Contact your local council to apply for small business rate relief.

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