2015/16 Central Government Autumn Statement
Changes to business rates for 2016/17 which may affect you
Retail rate relief (RRR)
This scheme is not being extended and will end on 31st March 2016. Your annual bill will reflect this change.
Small business rate relief (SBR)
The enhanced scheme, allowing small businesses to receive 100% SBR if their rateable value is £6,000 or below, has been extended to 31st March 2017.
Ratepayer's whose rateable value is between £6,001 and £12,000 can receive relief on a sliding scale. Ratepayer's whose rateable value is over £12,001 can still get a reduction with their rates being calculated, using the SBR multiplier rather than the standard multiplier. In 2016/17 based on provisional figures, this equates to 0.013 in the pound i.e. for each £100 rateable value a difference in the amount due of £1.30.
If you are already receiving SBR you do not have to do anything and your 2016/17 bill will take this into account.