Latest Information

Small Business Rate Relief

21/01/2010

Small Business Rate Relief

Small Business Rate Relief (“SBRR”) provides certain business rate payers with a reduction of up to 50% on their rates bills.

Relief is currently available where the rateable value of the property falls below the current specified threshold: £14,999 (or £21,499 for properties in Greater London).

The Non-Domestic Rating (Small Business Rate Relief) (England) (Amendment) (No.2) Order 2009 (SI 2009/3175) (“SBRRAO 2009”) comes into force on 1 April 2010. The SBRRAO 2009:

  • Increases the current rateable value threshold to £17,999 (£25,499 for properties in Greater London).
  • Removes the requirement for those businesses that are eligible for SBRR to re-apply in respect of the new valuation period.

Revaluation of business rates takes place every five years and the next revaluation will take effect from 1 April 2010 when rateable values will change as a result. The Valuation Office Agency (“VOA”) is responsible for valuing all business and non-domestic property in England and Wales for business rates.

In autumn 2009 the revised draft rating list became available on the VOA’s website and thereafter the VOA notified ratepayers of the new rateable values, giving them the chance to check their details before local authorities calculate and issue rates bills in early 2010. For more information on business rates and the 2010 revaluation please visit http://www.voa.gov.uk/business_rates/index.htm.

If you require advice or assistance in respect of the above or any other Commercial Property matter, please contact our Commercial Property team on 01204 527777.