small business rate relief

Small Businesses Missing Out on Business Rate Exemptions

Small Businesses Missing Out on Business Rate Exemptions

Only 55% of small companies are aware of small business rate relief, the latest Owner Managed Business (OMB) Barometer from Bank of Cyprus UK has reported – meaning nearly half of all small firms are missing out on tapered relief of up to 100%. The small business rate relief policy means that until the end of March 2016, small firms with non-domestic properties that are valued between £6,000 and £12,000 are eligible for reduced business rates, and businesses with properties that have a rateable value under £6,000 are completely exempt. The policy was introduced by the government in order to double rate relief for the small business community – a measure that over a third of the barometer’s respondents called for – yet 45% of company owners stated in the OMB’s survey that they had never hea... »

Local Councils May Withhold Small Business Rate Relief

Government plans for local councils to administer Small Business Rate Relief (SBRR) may mean fewer small firms receive a reduction on their rates bills, the Forum of Private Business (FPB) has warned. Local government secretary, Eric Pickles, has announced that SBRR will be administered by local rather than central government “in a way that best serves local businesses and local needs”. This means it will be at the discretion of local councils whether small firms receive rate relief. However, the change is unlikely to come in until April 2011 at the earliest. FPB property adviser, Andrew Bacon of Leaseholders United, said that the system could result in many small businesses being refused a discount by their local council. “The [recently announced] Localism Bill will allo... »