The bands for this relief changed on the 1 April 2017
Ratepayers with only one business premises with a rateable value of less than £15,000 will be eligible for small business rate relief at a percentage reduction. Ratepayers who have two or more properties, where the second rateable value does not exceed £2,899 and the combined rateable value does not exceed £19,999, will also be eligible for small business rate relief on the first (main) property as listed below:
Regulations that came into force in 2014 state that for a period of 12 months a small business currently in receipt of Small Business Rate Relief will be able to take on a second property without losing their relief. After 12 months they will lose their Small Business Rate Relief.
|RATEABLE VALUE OF THE PREMISES||RELIEF AVAILABLE|
|UP TO £12,000||100% Relief|
|£12,001 - £15,000||Relief will be given on a sliding scale from 100% to 0%|
|£15,001 - £50,999||No relief|
NB: Ratepayers with a rateable value of £1 - £50,999 will not pay the small business rates supplement, meaning the bill will be calculated on the lower ‘Small business multiplier’ (this year it is 48p per rateable value pound)