What is Small Business Rate Relief?
16 February 2024

Fuel Your Growth with the Small Business Rate Relief

The life of a small business owner is filled with countless decisions, each impacting your bottom line. Fortunately, the UK government offers a helping hand through Small Business Rate Relief (SBRR), a programme designed to lighten your financial burden and fuel your growth.
Keep reading to find out more about the SBRR and explore how it can benefit your business.

What is Small Business Rate Relief?
SBRR is a government programme offering financial support to eligible small businesses across the UK. It achieves this by lowering their business rates on eligible properties, directly translating into cost savings you can reinvest in crucial areas like marketing, expansion, or even hiring additional staff. Designed to reduce business owners’ financial burden, it aims to empower small businesses to thrive up and down the UK.

Do you qualify for SBRR?
While specific eligibility criteria vary slightly between regions, the general rule revolves around the rateable value of your business property. For example, in England in 2024, if your property’s value falls below £15,000, you’re eligible for full relief. However, it’s always a good idea to check with your local council for the latest figures and specific details, as factors like the number of properties you own also play a role in influencing eligibility.

How much can you save?
The amount of savings depends on your property’s rateable value. With a value under £12,000, you’ll pay no business rates at all. Between £12,000 and £15,000, the relief gradually decreases from 100% to 0%.

Ready to claim your savings?
The good news is you usually don’t need to apply for SBRR; your local council will automatically apply it if you’re eligible. However, a quick confirmation call can provide peace of mind and ensure you’re maximising your relief amount. Remember, every saved pound represents an opportunity to invest in your future success.

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