TAX: Small Business Rates Relief
As a recap, if your company has a business premises with a ratable value (RV) of under £12,000 then you will be eligible for Small Business Rates Relief (SBRR). Depending on the value depends on the amount of relief available to you:
- RV under £6,000 – 100% SBRR, meaning zero Business Rates are due
- RV £6,001-£12,000 – the reduction is between 1% and 50%
Find out how to calculate your ratable value and ensure you are claiming back the SBBR here.
The good news is this doubling of the relief will be extended for a further year from April 2015, following the Autumn Statement. Claims can be backdated to 1 April 2010 as well…
The government is also to committing to a review of the structure of business rates as a whole in time for the 2016 Budget.
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