Business rates are one of the largest costs to SME’s but many are unaware of the tax relief available.
A business in England that occupies only one commercial property is entitled under the rules to have their bill calculated using the small business rate multiplier where the rateable value is under £18,000 (£25,500 in London).
There is also the temporary business rates cut for businesses occupying one property where the rateable value is under £12,000. See my earlier blog for full details.
To help increase take up, the government is proposing to scrap the legal requirement for ratepayers to fill in an application form. The intention is to give councils the freedom to administer small business rate relief themselves, so that all eligible businesses automatically have their discounted bills calculated using the small business multiplier.
If you are entitled to claim business rates relief then contact your local authority straight away to ensure you don’t pay too much.
In relation to business rates also remember:
• if you think that the rateable value of your property is too high there is a right of appeal.
• where you have vacant commercial property remember to claim empty property relief but note the cut from April 2011
Steve Petty
Commercial Property Solicitor
01926 629 005
This blog is not intended to constitute legal advice, nor is it intended to be a complete and authoritative statement of the law, and what we say might be out of date by the time you read it. You should always seek legal advice to confirm whether or how any information in this article applies to your particular situation. We offer a free telephone consultation to discuss your particular circumstances.