Business rates relief

Following the 2023 revaluation, the threshold for Small Business Rates relief remained at £12,000. This means that all businesses that are classified as small businesses, that occupy commercial property with a rateable value of £12,000 or less, are eligible to pay no business rates. The sliding scale of business rates relief also remains the same at £12,000-15,000 bracket, which – albeit a narrow scale – is also offering substantial savings for those slightly larger properties.

Good news for small businesses

• Small businesses that occupy their sole business property, with a rateable value of £12,000 or less, continue to pay no business rates
• An estimated 600,000 UK businesses are eligible to pay no business rates
• Tapered rate of relief on properties with a rateable value up to £15,000
• In addition, the current threshold for payment of the higher uniform business rate remains at £51,000

Small business rates relief taper

This bracket is from £12,000 to £15,000, making it more vital than ever that companies in this bracket seek advice on their rateable value – with possible exponential savings.

Small, medium and large businesses

We have a system of two multipliers, small business multiplier and standard multiplier.

• Rateable value less than £51,000 qualifies for the small business multiplier
• Rateable value greater than £51,000 qualifies for the standard multiplier

Small business multiplier

The Government made it easier for eligible ratepayers with rateable values below £51,000 to have their bills calculated using the small business multiplier. If you are not getting the benefit of the small business multiplier automatically on your current business rates bill, then you should contact your local council.

How does business rates transitional relief affect my business rates?

Business rates transitional relief, which only applies in England, is designed to reduce the impact of any significant changes in the rateable value of commercial property. Local councils will automatically include transitional relief when they calculate business rates bills.

Transitional relief applies to three categories of property – small, medium and large.

Transitional relief limits, in the short term, the percentage your business rates bill can be increased following the revaluation. The transitional relief will have the most effect in the first year after the revaluation, with more substantial adjustments in years 2 and 3.

Backdated to 2007, Casino operator Les Croupiers Ltd, saved £28,000 following our appeal on their Cardiff-based premises.

Leisure premises, Cardiff