An “enhanced” SBR scheme came into force 1st October 2010, replacing the original SBR scheme and will continue until (at least) 31st March 2018.
It provides rate relief to businesses occupying small premises as outlined below:
- Premises with Rateable Value not exceeding £6,000 will be entitled to 100% relief.
- Above £6,000 Rateable Value, and up to the upper RV limit of £12,000 relief will reduce on a tapered basis, gradually reducing at a rate of approximately 1% for every £60 RV e.g. :- - a property with RV £6,120 will attract 98% relief. - a property with RV £6,600 will attract 90% relief.
There are also some variations for specific types of business including Post Offices, Registered Child Care premises and Credit Unions, and protection for businesses that would have received greater level of relief under the original scheme.
The relief outlined above will apply to all types of business, not only retail. However, it will not apply to local authority premises or to premises occupied by ratepayers that are charities or non-profit making-organisations that are entitled to apply for mandatory or discretionary “charitable” relief.
[NB. The business property must be wholly occupied to qualify for relief]