That's a relief! | AIMS Accountants for Business

That’s a relief!

/ Tax

With everything that is going on at the moment and a bit of a lull in the seemingly endless tinkering with the tax system I thought it would be useful to remind you about small business rate relief.

If your business premises have a rateable value of less than £12,000 you are entitled to 100% small business rate relief and you are entitled to some relief if the rateable value is less than £15,000. For example, if the rateable value is £13,500, you’ll get 50% of your bill and at £14,000, you’ll get 33% off.

To claim small business rate relief, you apply to your local authority, the relief is not given automatically.

There has been a business rating revaluation this year; if as a result of the revaluation you have lost entitlement to small business rates relief the increase in your business rates will be capped at £50 a month.

Sadly, I did not say this was simple, it’s still worth talking the topic through with someone who understands the system. Our accountants would, of course, be happy to help.

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That’s a relief!