Small Business Rate Relief
Published on 25th March 2011
Waveney businesses should be aware that there have been changes made to plans for Small Business Rate Relief, as announced in the 2011 Budget, this week.
The previous Government temporarily increased the level of Small Business Rate Relief (SBRR) from October 1 2010 so that eligible ratepayers pay no rates on properties with rateable values up to and including £6000, with a tapered relief between 100% and 0% for properties with rateable values between £6001 and £12,000.
This scheme was due to end on was due to end on September 30 2011 but will now continue for a further year (October 1 2011 to September 30 2012), as announced in the Budget on March 23 2011.
There are no other changes to the scheme and the Government has confirmed that it will meet the costs of the increased levels of relief.
What do you need to do?
You need take no action. Once the legislation is in place, you will be sent a revised bill. If you think that you meet the criteria but have not submitted a claim for small business rate relief, you should contact the Business Rates Team to see if you are entitled to support by calling (01502) 523280 or emailing email@example.com.
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