This relief is available to ratepayers who have lost some or all of their small business rate relief or rural rate relief as a result of an increase in rateable value in the 2023 revaluation. The Government introduced SSB from 1 April 2017 to help phase-in large percentage increases for those affected.
This scheme, which runs from 1 April 2023 to 31 March 2026 limits any increase in business rates to £600 per year. Those on the Supporting Small Businesses relief scheme whose 2023 rateable values are £51,000 or more will also not be liable to pay the supplement 1.3p to fund small business rate relief while they are eligible for the Supporting Small Businesses relief scheme.
As with all reliefs, the amount of relief awarded under the Supporting Small Businesses relief scheme will be recalculated in the event of a change of circumstances such as a change to the rateable value.
A change of ratepayers will not affect eligibility for the Supporting Small Business relief scheme, but eligibility will be lost if the property falls vacant or becomes occupied by a charity or community amateur club.
Last Updated on Wednesday, May 8, 2024