Business magazine - News - Small business rate reduction

Monday, 16 May 2005

A new business rate relief has been introduced (with effect from 1 April 2005) for businesses with a rateable value of below £15,000.

There is a 50% rate relief for businesses with a rateable value less than £5,000. For businesses with a rateable value between £5,000 and £10,000 the relief is reduced by 1% for every £100 over £5,000.

Businesses with a rateable value between £10,000 and £15,000 shall have their rates calculated using the Small Business Multiplier.

There are eligiblilty criteria to receive the relief.

Full information: My Business Rates