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Small Business Rates Relief

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Businesses will be eligible for small business rate relief (SBRR) if they generally occupy only one property and their rateable value is below a certain level. The system varies between England and Wales and is administered by each local authority.

SBRR eligibility in England applies if a rateable value is below £18,000 (£25,500 in London) and is structured as follows.

Currently, if a 2010 rateable value is £6,000 or below, and the occupier qualifies, then the rates bill will be zero until 31st March 2014. After this date, the bill will revert back to a reduction of 50%, although we await the Government’s position.

Above £6,000 rateable value the rates liability tapers up to £11,999 inclusive in rateable value, when it reaches effectively full rates, albeit at the lower annual multiplier.

If a 2010 rateable value is between £12,000 and £17,999 (£25,499 in London), the small business rate multiplier is used only.

In some situations owners/occupiers could consider splitting their rating assessment to benefit themselves and/or their tenants from SBRR if the occupations are capable of separate occupation.