In the 2014 Autumn statement, the Government announced that the Small Business Rate Relief (SBRR) scheme would continue until 31 March 2016.
As a result, SBRR is available at 100% for ratepayers occupying single properties with a rateable value up to £6,000, with relief declining in percentage terms on a sliding scale of 1% for every £120 of rateable value over £5,999.
The relief is only available to ratepayers with either:
(a) one property, or
(b) one main property and other additional properties providing those additional properties each have rateable values less than £2,600.
The rateable value of the property mentioned in (a), or the aggregate rateable value of all properties mentioned in (b), must be under £18,000.
However, from April 2014 ratepayers currently receiving SBRR that take on an additional property which would have previously disqualified them from receiving relief, will continue to receive their existing relief for 12 months.
The scheme is funded through a supplement on the rate bills of those businesses not eligible for relief. The supplement is built into the standard non-domestic rating multiplier. However, ratepayers of eligible business properties with rateable values between £12,000 and £18,000 do not have to contribute towards the relief and will have their bills calculated using the lower small business non-domestic rating multiplier.
A condition of entitlement to SBRR will be that the ratepayer must notify the Council of any changes in circumstances, that may affect their entitlement to the relief, within four weeks of the day after the change occurred.
The ratepayer must notify the Council, in writing, within four weeks of the change regarding the following:
- Increases in rateable value of a property occupied by the ratepayer which is not in the area of the billing authority granting SBRR
- The ratepayer coming into occupation of any property not mentioned in their application for relief (a new application form will need to be completed).
If these changes result in the ratepayer being no longer eligible for SBRR, it will end from the date of change. If relief is still applicable, it will be reassessed and granted.
However, if the ratepayer is still eligible for relief but did not notify the Council of the changes within four weeks from the day following the date of change, relief will not be granted between the date of change and the date the ratepayer notifies the Council in writing.
The Revenues Section
Epsom & Ewell Borough Council
Telephone: Epsom (01372) 732000