Small premises? Small Business Rate Relief
If you are a small business and considering taking a lease of new premises which are likely to have a low rateable value, ask your landlord exactly what the rateable value is before proceeding as it may be worth taking a lease of the unit next door. The Non-Domestic Rating (Small Business Rate Relief) (England) (Amendment) Order 2014 (SI 2014/43) has been made and came into force on 14 February 2014. The order extends the temporary increase in the level of small business rate relief in England for a further year, until 31 March 2015 and provides 100% relief for eligible businesses occupying premises with a rateable value of not more than £6,000. There is a tapered relief from 100% to zero for properties with a rateable value between £6,001 and £12,000. The order also provides that where a ratepayer starts to occupy an additional property, the ratepayer does not lose the benefit of the relief for the first 12 months of occupation. Currently a ratepayer only receives relief if they occupy one property.
Posted on 03/18/2014 by Ortolan