Small Business Rate Relief.
Many small company owners are unaware that they may qualify for
Small Business Rate Relief. This came
into force on 1st April 2005. To be eligible, the rating authority
recently made changes to combine the aggregate value of all of
the properties that you occupy.
If the property that you wish to make a claim for is inside
Greater London, then the rateable value of
all the properties that you occupy, must be under £21,499.
If the property that you wish to make a claim for is outside
Greater London, then the rateable value must be under £14,999
of all the properties that you occupy.
The reduction that you are entitled to is as follows:
• Rateable Value under £5,000 Reduction of 50%
• Rateable Value £5,000 - £9,999 Decreases on
a sliding scale of 1% on every £100.
• Rateable Value £10,000 - £14,999 Rates will
be calculated on the small business non-domestic rating multiplier
for the relevant year.
To be eligible, small businesses must only occupy one business property. It is
possible to now complete an Application Form on-line.
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