From April 2023, properties with rateable values of £12,000 or below that meet the eligibility criteria will receive 100% relief and those businesses with rateable values between £12,001 and £14,999 will receive tapered relief. The taper will operate as at present, with 100% relief for eligible hereditaments with a rateable value of £12,000 or below, decreasing to 0% relief for hereditaments with a rateable value of £15,000 or above.
The threshold for the standard business rates multiplier will also increase from a rateable value of £18,000 (£25,500 in London) to £51,000.
You can get Small Business Rate Relief if:
If your property's rateable value is £12,000 or below your bill will be reduced by 100%.
If your property's rateable value is between £12,001 and £14,999 your bill will be reduced on a sliding scale, decreasing from 100% relief to 0% relief for properties with a rateable value of £15,000 or more.
If you occupy more than one property you can still get Small Business Rate Relief on your main property if the rateable value of each of your other properties is less than £2,900, and the total rateable value of all your properties is less than £20,000.
If you are getting Small Business Rate Relief and start to occupy a second property that would otherwise mean that you did not qualify for Small Business Rate Relief, for example the second property is over £2,900 rateable value, or the two properties are over £20,000 when added together, you will keep getting any existing relief for one year from the date you occupied the second property.
An application for small business rate relief is required. Where a ratepayer meets the eligibility criteria and has not received the relief they should contact Amber Valley business rates section.
Provided the ratepayer continues to satisfy the conditions for relief which apply at the relevant time as regards the property and the ratepayer, they will automatically continue to receive relief in each new valuation period.
Certain changes in circumstances will need to be notified to Amber Valley business rates sections by a ratepayer who is in receipt of relief (other changes will be picked up by Amber Valley business rates section).
The changes which should be notified are:
If your circumstances change you must inform the council except where it is for a rateable value amendment.
Note - ratepayers who occupy a property with a rateable value which does not exceed £50,999 (and who are not entitled to other mandatory relief or are liable for unoccupied property rates) will have their bills calculated using the lower small business non-domestic rating multiplier, rather than the national non-domestic rating multiplier.
Quick guide to see your small business rate relief
Please note: This relief is for occupied businesses only
Contact the team directly on 01773 841444 or email nndr@ambervalley.gov.uk
