Rates holiday for small businesses
From 1st October 2010 small businesses are to receive up to 100% relief from rates for one year.
This applies to businesses occupying premises with a rateable value of up to £6,000. Relief is on a sliding scale where the rateable value is between £6,001 and £12,000.
Do you qualify for rates relief ?
From 1 April 2010 all business properties in England, Wales and Scotland were revalued for rating purposes and business rates are now based on the new 2010 rateable values. This is subject to appropriate relief’s applying to arrive at the actual rates bill. Do you qualify for relief?
There are several rate relief schemes in place from 1 April 2010.
They must be taken into account to arrive at your current rates bill for 2010-11. They include;
- Transitional relief (phasing). Limits increases and decreases.
- Small business rate relief
- Empty property rate relief.
- Mandatory and discretionary rate relief.
- Community Amateur Sports Club relief.
- Village shop rate relief.
- Relief for partly occupied properties
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Hardship relief.
