Support for Small Businesses
This scheme announced in the November 2022 Autumn Statement will help ratepayers. In particular those who, as a result of the change in their rateable value at revaluation, are losing some or all of their small business rate relief or rural rate relief.
To qualify:
- Businesses should have received small business rate relief or rural rate relief in the 2022 to 2023 financial year; and
- Seen an increase in their rateable value from 1 April 2023; and
- Had a reduction in their small business rate relief or rural rate relief from 1 April 2023; and
- Seen their business rates bill increase by more than £600 per year from 1 April 2023
The scheme will be in place between 2023 to 2024 and 2025 to 2026.
Each year increases in business rates bills for eligible businesses will be capped at £600.
The discount will end when the bill reaches the amount that would have been paid without the scheme or the property becomes vacant.
All ratepayers who are eligible to receive this relief have been identified.
The scheme also provides support for those previously eligible for the 2022 to 2023 SSB scheme and those facing large increases in 2023 to 2024. In these cases, it is only for one further year.
