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Small business rate relief

Occupiers of properties with a rateable value under £51,000 automatically have their bill calculated using the lower Small Business Rate multiplier, unless they are entitled to another mandatory relief. The reduction is not available on empty properties.

Amount of Relief

As a result of recent government changes, the level of Small Business Rate Relief has been increased for eligible ratepayers from 1 April 2017 as follows:

  • Rateable value up to £12,000 – no rates payable
  • Rateable value between £12,001 & £15,000 – tapered relief between 100% and 0%

The Small Business Rate multiplier for 2017/2018 is 0.471. For other businesses this is 0.484.

Eligibility

If the sole or main occupied property has a rateable value up to £15,000, the ratepayer will receive a percentage reduction in their rates bill for this property (see above).

To be eligible for relief, you must occupy either:

  1. one property with a rateable value under £15,000, or
  2. one main property plus other additional properties, providing those additional properties have rateable values less than £2,900.

The total rateable value of all the occupied properties must be under £28,000.

If you are in receipt of relief you must notify the local authority if:

  1. You take up occupation of an additional property.
  2. You occupy an additional property outside of the City of London and the rateable value of this property is increased.

If you do not notify the City of London within four weeks, relief will cease with effect from the day that the change happened. If you are still eligible, relief will apply again with effect from the day that you notify the local authority.

From 14 February 2014, ratepayers are entitled to keep an existing award of small business rate relief for 12 months where they take up occupation of an additional eligible property, which would have previously disqualified them from relief.

To apply for this relief please telephone 020 7332 1337 or 020 7332 3975 for a small business rate relief application form. 


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