Good news for small businesses

In what might be his last budget, Alastair Darling has announced that the Government will temporarily increase the level of Small Business Rate Relief (SBRR) so that eligible ratepayers will receive relief at 100% on properties with rateable values up to £6,000.    Previously the relief was at 50%. 

A tapered relief will continue to apply to properties with rateable values between £6,001 and £12,000 but the starting point will be 100% at rateable value £6,000 declining to 0% at rateable value £12,000.  The new levels of relief will be available for the 12 months from 1 October 2010 to 30 September 2011.  There are no other adjustments to the scheme and the eligibility criteria will remain the same. 
 
The Government have said that they will meet the additional costs arising from the change in the levels in the scheme.  There will be no adjustment to the multiplier for larger properties to fund the extension of the relief.

N.B Small Business Rate Relief (SBRR) should not be confused with Empty Property Rate Relief.