Business rates are a major expense for occupiers of commercial premises, but there are a number of reliefs that can help to reduce their liabilities. It is important to understand what reliefs are available so that occupiers can benefit from them.
Types of Business Rates Reliefs
- Small Business Rate Relief:
Small businesses can receive a discount on their business rates if the rateable value of their property is £15,000 or less. Learn more. - Rural Rate Relief:
If your business is located in a rural area with a population below 3,000. - Charitable Rate Relief:
Charities and community amateur sports clubs are eligible for 80% mandatory relief on their business rates with an extra 20% discretionary relief also potentially available. - Enterprise Zones Relief:
Businesses located in one of the designated enterprise zones could qualify for up to £55,000 a year over 5 years. - Exempted buildings:
Agricultural land, buildings used for the welfare of disabled people, or public religious worship. - Hardship Relief:
if you can prove that you would be in financial difficulties without it, and it is in the best interest of the local people. - Transitional Relief:
if your rates increase by a certain amount from the 2023 to 2024 tax year, the changes to your bill will be phased in gradually. - Retail, hospitality and leisure Relief:
You may qualify if your business is mainly used as things such as a shop, restaurant, café, bar, cinema, gym, or hotel. - Local newspaper relief:
A £1,500 reduction if your property is used as offices for journalists and reporters on a local newspaper. - COVID-19 Additional Relief Fund:
If your business has been affected by COVID-19 and you are not eligible for several other discounts including retail relief. - Nurseries Discount:
This ended on 1st April 2022. Eligible if your business was on Ofsted’s Early years register and was used to provide Early years foundation Stage of education. - Supporting small business relief:
if your bill is increasing after the 1st April 2023 revaluation and you’ll end up losing some or all of your SBRR or rural relief.