Small Business Rate Relief
The Government have now doubled Small Business Rate Relief for two and half years which will include the whole of the 2012-13 billing year.
You will be eligible for a discount under the small business rate relief scheme in England if you only occupy one property and it has a rateable value below £12,000. The Government has temporarily doubled the level of relief available. Between 1 October 2010 and 31 March 2013, eligible ratepayers will receive small business rate relief at 100% on properties up to £6,000 (rather than 50%) and a tapering relief from 100% to 0% for properties up to £12,000 in rateable value for that period.
The temporary Small Business Rate Relief increase will therefore apply throughout the whole of the 2012-13 billing year (until 31 March 2013). The relief was originally doubled by the government until September 2011, but this was extended by the Budget in March 2011 and then extended again in the 2011 Autumn Statement to take account of economic conditions.
The Government has also simplified the process for claiming the relief by removing the legal requirement for an application form in order to claim the relief. However, if you are not receiving the relief and you think that you are eligible, you should contact your local billing authority.
2012-13 Business Rates Deferral Scheme
The Government has put in place a business rates deferral scheme which will give you the option of spreading the Retail Price Index increase in your 2012-13 bill over three years to help you manage your cash flow in the current economic climate.
You will be able to defer payment of 3.2% of your 2012-13 bill - which is equivalent to 60% of the Retail Price Index increase - until 2013-14 and 2014-15. You wil then pay back the total amount deferred over those next two years.
Download the Business Rates Deferral Scheme Application form from the Communities and Local Government| website.
The Business Rates Deferral Scheme Application form asks for your name, the address of the property and its reference number (which can be found on your business rate bill). Complete those details, sign the form and return it to your local billing authority. You do not need to pay anyone to do this for you.
Further details on these inititatives can be found on Business Link's| website.
If you think that you meet the criteria, but have not submitted a claim for small business rate relief, you should contact your local authority to see if you are entitled to support.
Cannock Chase District Council|
East Staffordshire Borough Council|
Lichfield District Council |
Newcastle-under-Lyme Borough Council|
South Staffordshire Council|
Stafford Borough Council |
Staffordshire Moorlands District Council|
Tamworth Borough Council|
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