Small Business Rate Relief (SBRR) is a government support scheme that aims to reduce the amount of business rates that small businesses have to pay in order to help with the cost of running their business.
To be eligible for SBRR, a business must:
- Have a rateable value (RV) of £15,000 or less
- Only use one property
There are a few circumstances where you may be able to qualify for relief if you use more than one property.
When you occupy a second property, any existing relief on the main property will continue for the next 12 months. You can still qualify for small business rates relief on your main property after this if both of the following applies:
- The additional property/properties do not have an RV above £2,899.
- The total RV of your main property and any additional properties comes to less than £20,000 (£28,000 in London)
If you fit the criteria above, there is a range of how much relief you will receive depending on your RV. If your property has an RV of £12,000 or less, you will receive 100% relief and therefore pay no business rates. If your property has an RV of £12,001 to £15,000, the rate of relief will go down gradually from 100% to 0%.
How do you apply for small business rates relief? To apply for small business rates relief, your local council will need to be contacted. If you have any questions about small business rates relief or the application process, you can contact us below and we would be happy to help you.