Small business rate relief

Small business rate relief

Eligible ratepayers will have their Business Rates accounts calculated using the small business rate multiplier, with additional relief awarded which is stepped, so that those with a rateable value of less than £12,000 may be able to claim 100% relief, reducing to no relief at a rateable value of more than £15,000.

Eligible ratepayers that occupy a property in England, which has a rateable value below £51,000 will have their Business Rates accounts calculated using the small business rate multiplier.

All ratepayers who occupy properties with rateable values less than £51,000 will automatically have their bill calculated using small business rate multiplier. An application for small business rate relief is not required. Where a ratepayer meets the eligibility criteria and has not received the relief they should contact the council.

The Government has also introduced additional support to small businesses. For those businesses that take on an additional property which would normally have meant the loss of small business rate relief, the Government has confirmed that they will be allowed to keep that relief for a period of 12 months.

This is provided the ratepayer continues to satisfy the conditions for relief which apply at the relevant time as regards the property and the ratepayer, they will automatically continue to receive relief in each new valuation period.

Certain changes in circumstances will need to be notified to Chesterfield Borough Council by the ratepayer who is in receipt of relief.

The changes which should be notified are:

  • the ratepayer taking up occupation of an additional property, and
  • an increase in the rateable value of a property occupied by the ratepayer in an area other than the area of the local authority which granted the relief
  • the property falling vacant

Please notify Chesterfield Borough Council on 01246 345425 or email revenues.billing@chesterfield.gov.uk

Any business that does not qualify will have their business rates accounts calculated using the standard Business Rates multiplier.

For further information about business rates see Gov.uk Business Rates.

 

What are the standard rate multiplier and small business rate multiplier?

The national non-domestic rating multiplier is the rate in the pound by which, outside the City of London where special arrangements apply, the rateable value is multiplied to produce the annual rate bill for a property. It is set annually by the Government and except in a revaluation year, cannot, by law, rise by more than the amount of the increase in the retail prices index.

You can find a list of current multipliers on the Gov.uk website.

 

Who is the scheme available to?

Businesses that occupy properties with rateable values less than £15,000. From 1 April 2012 there is no restriction on the number of properties occupied if claiming small business rate multiplier only. The small business rate multiplier is automatically applied.

A further discount is available to businesses that occupy:

  • one property with a rateable value less than £15,000 in England effective from 1 April 2017
  • one main property with rateable value less than £15,000 and other additional properties, providing those additional properties each have rateable values of less than £2,900 effective from 1 April 2017 and the total rateable value of all the properties remains under £20,000 effective from April 2017 (the relief will only be applied to the main property, the other properties do not qualify for relief)

 

What happens next?

To claim relief after 1 April 2012

An application form is not required. Properties with rateable values less than £51,000 will automatically have their bills calculated using the small business rate multiplier. 

 

How do I apply for small business rate relief?

If you believe you may be entitled to relief, please contact the non-domestic rating section on 01246 345425, email revenues.billing@chesterfield.gov.uk or

Apply online here