Business rates. The right to reduced rates for businesses that occupy small commercial premises has been extended. If your business meets the conditions you can claim small business rate relief (SBRR) for 2016/17.
You must claim SBRR, your local council will not grant it automatically.
You can claim Small Business Rates Relief (SBRR) where:
- you only use one property
- your property’s rateable value is less than £12,000.
You’ll get 100% relief from business rates until 31 March 2017 for properties with a rateable value of £6,000 or less.
The rate of relief decreases proportionately from 100% to 0% for properties with a rateable value between £6,001 and £12,000.
Where you have more than one property used for business you can get SBRR if the rateable value of each of your other properties is less than £2,600. The rateable values of the properties are added together and the relief applied to the main property. You’ll keep getting any existing relief for one year when you get a second property.