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Temporary Increase and Small Business Rate Relief for England Extended to 31st March 2015
The Non Domestic Rating (Small Business Rate Relief) (England) (Amendment) Order 2014 has been made and comes into force on the 14th February 2014. The Order:
- Extends the temporary increase in the level of small business rate relief in England for a further year, until the 31st March 2015.
The increased relief was initially introduced for one year from the 1st October 2010 to the 30th September 2011. It provides 100% relief for eligible businesses occupying premises with a rateable value of not more than £6,000.00. There is a tapered relief from 100% to zero for properties with a rateable value between £6,001 and £12,000
- Provides that where a rate payer starts to occupy an additional property, the rate payer does not lose the benefit of the relief for the first 12 months of occupation.
Currently a rate payer only receives relief if they occupy one property (although additional properties are disregarded if their rateable value, and aggregate rateable value of all their properties, is below certain thresholds).