News Detail
Date: 23/03/2011
Impact of the 2011 Budget on Small Business Rate Relief
*STOP PRESS - 100% SMALL BUSINESS RATES RELIEF EXTENDED TO OCT 2012*
Eligible ratepayers will receive small business rate relief at 100 % on properties up to £6,000 (rather than 50 per cent), and a tapering relief from 100 % to 0 per cent for properties up to £12,000 in rateable value for that period.
There are no other adjustments to the scheme and the eligibility criteria will remain the same. Your local billing authority will contact you about how this may affect you, but you should continue to pay your rates as per the bill you have received until a new bill reflecting the change is issued.
Contact your local authority if you need further advice. The majority of all units at Space Business Centres have a rateable value of less than £6,000 and it is therefore hoped that this will provide a real boost to all the occupiers of our sites.