Small Business Rate Relief Extended
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Published
6th February 2014
MORE GOOD NEWS FOR SMALL BUSINESSES
To assist with the economic recovery the Government has
continued the business rate relief that small businesses
receive. There are also new provisions allowing the relief to
continue even if there are additional premises.
How
does it work?
- If your business occupies one property that has a rateable
value of �6,000.00 or less then you are entitled to 100% business rate
relief until 31st March 2015.
- If you occupy one property for your business you can get some
business rate relief if the rateable value is between �6,000.00 and
�12,000.00. The amount reduces from 100% at �6,000.00 to 0.
- Previously, if you subsequently occupied an additional
property, eg, if you opened a new shop or office, you would then lose
the previous business rate relief you were entitled to. The new
regulations mean that, for the first 12 months, you don�t lose the
relief on the existing property.
- You must apply for this business rate relief to your local
Council.
What to do next.
If you occupy only one property check the rateable value. If
it is �12,000.00 or less then you are probably eligible for business
rate relief and you should apply immediately.
by
David Heys
About the Author
Lawson-West specialise in commercial, business and employment law. Our team
of dedicated commercial solicitors can help with buying or selling a business,
business law and disputes, landlord and tenant issues and commercial property.
Our expert employment team can offer practical advice and guidance on all
aspects of employment law including redundancy, compromise agreements and
dismissal procedures. Visit
www.lawson-west.co.uk for more information.
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Article Published/Sorted/Amended on Scopulus 2014-02-12 09:12:38 in Business Articles
