This relief has been available since 1 April
2005.
Eligible businesses with rateable values of below £5,000 will get
50% rate relief on their liability. This relief will decrease on a
sliding scale of 1% for every £100 of rateable value over £5,000,
up to £9,999.
The relief is available to ratepayers with either:
- one property, or
- one main property and other additional properties, providing
the additional properties do not have individual rateable values of
more than £2,200, and the combined rateable value of all the
properties is under £15,000 (or £21,500 in London). The threshold
for the combined rateable value is dependent on the location of the
main property.
In addition to this relief on the charge due, eligible businesses
with rateable values of between £10,000 and £14,999 (or between
£10,000 and £21,499 in London) will have their liability calculated
using the small business multiplier.
The Small Business Rate Relief scheme will be funded by a
supplement on the rate bill of those businesses not eligible for
the relief. This supplement is built into the standard
multiplier.
The intention behind the scheme is that the ratepayer should be
able to obtain relief against one property only. So for example, if
you have several properties and none have a rateable value of more
than £2,200 and the total value of all the properties is under
£15,000 you need to identify the ONE property you wish to have the
relief for. The remaining properties would be charged using a
higher multiplier.
Once granted, the entitlement to this relief will continue to the
next rate revaluation (April 2010) however any changes in your
circumstances must be declared to Waveney
District Council.
The application form can be backdated. For example to claim relief
from 1st April 2005, the latest date to get the form back to us is
the 1st September 2006.
For more information contact us using the details below:
E-Mail:
brates@waveney.gov.uk
Telephone: 01502 523280
Fax: 01502 523310
Post: Waveney District Council, Revenues and
Benefits, PO Box 96, Lowestoft, NR32 1HW
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