A private members’ Bill is seeking to make small business rate relief (SBRR) automatic for all business premises with a rateable value (RV) of less than £10,000. While that Bill makes its way through Parliament dozens of Brighton & Hove businesses are already entitled to the relief but simply don’t bother to ask for it. Maybe it's time to start.
Small businesses in England have been entitled to claim up to 50 per cent relief from their local authority for smaller premises for over three years but they have to actually apply for it. Most don’t seem to, either because they don’t know about it or they can’t be bothered.
Although the tax break could be worth up to up to £2,000 a year for the very smallest business premises more than half of those eligible simply don’t claim according to the Treasury.
The Local Government Association calculated that in 2006 alone, £400m was left unclaimed and in certain circumstance SBRR may be backdated to 1st April 2007
In Brighton & Hove such relief could be a valuable reduction in overheads for hundreds of small businesses. In a typical North Laine street like Sydney Street there are for instance over 30 premises with a rateable value of less than £10,000 and five that have RVs that would qualify for the full 50% relief. The others would all be eligible to varying degrees of reduction on a sliding scale.
Brighton & Hove City Council’ website has a page explaining how the system works and a form that can be downloaded to apply for the relief.
Read related items on:
Brighton & Hove City Council