Supporting Small Businesses
2020 is the fourth year of the scheme of relief available to those ratepayers facing large increases in their Business Rates charge as a result of the loss of small business or rural rate relief following the revaluation of their business premises.
Some small businesses will potentially benefit from a cap on Business Rate increases. This Relief will ensure that the increase per year in the bills of these ratepayers is the greater of:
- a percentage increase p.a. of 5%, 7.5%, 10%, 15% and 15% (2017/18 to 2021/22) all plus inflation; or
- a cash value of £600 per year (£50 per month).
We have already identified and applied this relief to all business which qualify.
State Aid Limits
This relief is subject to the European Union restrictions on state aid and therefore your business must comply with the EU regulations on state aid. Any state aid that you receive must be “de minimis” I.E. not exceed €200,000 in total for the current and the 2 previous financial years.
If you have any queries regarding Business Rates relief please contact us using the details below. Please add your Business Rates account number and Supporting Small Business Relief to the subject line of your email.