The Non-Domestic Rating (Small Business Rate Relief) (England) (Amendment) Order 2014 (SI 2014/43) has been made and comes into force on 14 February 2014. The Order brings into effect two changes:
1. It provides a temporary increase in the level of Small Business Rate Relief in England for a further year, until 31 March 2015.
The increased relief initially provided 100% relief for eligible businesses occupying premises with a rateable value of no more than £6,000. There us tgeb a tapered relief from 100% to zero for properties with a rateable value between £6,001 and £12,000.
2. It 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.
The current position states that a rate payer only receives relief if they occupy one property (althought additional properties are disregarded if their rateable value, and the aggregate rateable value of all their properties, is below certain thresholds).
For further information contact a member of our commercial property team or call 01737 854 500.