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Business Rates

Extension to Small Business Rate Relief

Key points:

  •  Good News for Occupiers of Small Business Properties.

The Chancellor made several announcements in respect of Business Rates:

  • A permanent doubling of double Small Business Rate Relief (SBRR) from 50% to 100%.
  • A doubling of the threshold for properties to qualify for SBRR from a rateable value of £6,000 to £12,000 from April 2017.
  • Businesses with a property with a rateable value between £12,000 and £15,000 will receive tapered relief.
  • SBRR will continue to be due only to businesses that occupy a single business property.

From April 2017 the standard business rates multiplier will only apply to properties with a rateable value of at least £51,000. This will produce a saving of up to £650 per year.

From April 2020 increases in business rates will be calculated using CPI rather than RPI, which is generally lower.

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