Properties with RV less than £11,500 can benefit from small business rate relief whereas large properties with RV over £29,000 will be subject to small business rate supplement.
Your business rates may also be affected by transitional relief.
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Small business rate relief
Small business rate supplement
Small business bonus scheme
From 1 April 2010, properties with RV £35,000 or less will be able to benefit from the SMALL BUSINESS BONUS SCHEME. Details are as follows:-
- Rateable Value up to £10,000 100% relief available
- Rateable Value up to £12,000 50% relief available
- Rateable Value up to £18,000 25% relief available
Businesses with multiple properties whose cumulative RV is £25,000 or less will qualify for 25% relief for each property, so long as each property has an assessment less than RV £18,000.
Small business supplement
Larger businesses will continue to subsidise the cost of the Scheme by a supplement to the rate poundage for all subjects with a Rateable Value above £35,000. In 2010/11 this supplement will be 0.7p on the rate poundage of 40.7p.