GREAT news for small business as they continue 100% rates relief until 2014!

Small business rate relief

You can get small business rate relief if:

• you only use one property
• its rateable value is less than £12,000

What you get

Until 31 March 2014 you’ll get 100% relief (doubled from the usual rate of 50%) for properties with a rateable value of £6,000 or less (this is the majority of our units at The Wincombe Centre). 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.

You have more than one property

You could 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.

You’re a small business but don’t qualify for relief

If your property has a rateable value below £18,000 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.