6. Small business rate relief
Ratepayers of occupied property (who are not entitled to mandatory relief) with an RV which does not exceed £50,999 will have their bill calculated using the lower small business non-domestic rating multiplier.
Also, if the sole or main property has an RV not exceeding £14,999, the ratepayer will receive a percentage reduction in their rates bill for this property. For a property with an RV below £12,001, relief is 100 per cent.
The percentage reduction is available where the ratepayer occupies either:
- one property with an RV not exceeding £14,999: or
- one main property and additional properties, where the additional properties each does not have an RV exceeding £2,899 and is not in receipt of SBRR and the sum of the RV of all the property occupied does not exceed £19,999
If the RV or aggregate RV increases above those levels, relief will cease from the day of the increase.
For those businesses that take on an additional property which would normally have meant the immediate loss of SBRR, they will be allowed to keep that relief for a period of 12 months.
Providing the ratepayer continues to satisfy the conditions for relief that apply at the relevant time as regards the property and the ratepayer, they will automatically continue to receive relief in each new valuation period.
A ratepayer who is in receipt of SBRR will need to notify us of certain changes in circumstance:
- the ratepayer vacating the property
- the ratepayer taking up occupation of an additional property
- an increase in the RV of a property occupied by the ratepayer outside of East Devon