Small Business Rate Relief (SBRR) is a government support scheme that reduces business rates for small businesses in order to support them with their running costs.
To be eligible for SBRR your business must:
- Have a rateable value (RV) of £15,000 or less
- Only use one property
If your business occupies more than one property, however, you may still qualify for relief when both of the following criteria are met:
- The additional property/properties do not have a 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 your business occupies a second property and meets these criteria any existing relief on the main property will continue for the next 12 months.
Rates relief will be calculated individually and range from 100% relief, resulting in no rates to pay (for properties with a Rateable Value of £12,000 or less), and reduce gradually to 0% relief (for properties with Rateable Values of up to £15,000).
To receive SBRR an application should be made to your local council, ensuring they correctly understand your business’s property commitments.
If you have any questions about Small Business Rates Relief or would like us to assist you with the application process, please contact us and we would be happy to help.