Small Business Rate Relief

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Your annual Business Rates bill is calculated by multiplying your property’s rateable value (as assessed by the Valuation Office Agency) by the multiplier, or ‘rate in the pound’ (as set by the Government). Properties with a rateable value below £51,000 are calculated using a small business multiplier.

The small business multiplier changes each year. The multiplier for the current year may be found on the Valuation Office Agency website.

For the tax year 2018/19, the small business multiplier is 48.0p. Therefore, if your rateable value is £15,000, your bill for the year would be £7,200 (less any other Reliefs you are entitled to).

As a ratepayer, if you occupy a single property with a rateable value below £15,000, you will also be entitled to relief as follows:

Small Business Rate Relief is based on your occupation of a single property. However, if you occupy additional properties, these can be disregarded if the following applies:

• the additional properties must have a rateable value of less than £2,900 each (£2,600 prior to 01/04/17), and
• the combined rateable value of all properties is less than £20,000 (£18,000 prior to 01/04/17).

In this case, relief will apply to your main property only.