Small businesses lose out on rate relief

Savannah Selle
May 14, 2011

Many small businesses in the UK are unaware of the tax break, it has been claimed.

The Small Business Rate Relief (SBRR) is available to small businesses that have a rateable value of their premises below £12,000.

However, those with a rateable value of up to £6,000 will pay no business rates until September 2012. Ratepayers will receive SBRR of 100% on properties up to £6,000 rather than the original 50% and a tampering relief from 100% to 0% will be in place for properties over £6,000 up to £12,000 in rateable value for that period.

According to accountancy firm, Mitchell Charlesworth, there is more than £400 million Small Business Rate Relief (SBRR) sitting unclaimed each year. Businesses have to register for the SBRR via their local authority services.

Partner of Mitchell Charlesworth, Paul Durrance said:

“SBRR is a terrific tax break for recession stricken small firms.”

“However, many business owners are unaware of the tax break and historically hundreds of millions have been left unclaimed…”

“If you think you could qualify it is vital to contact your accountant urgently to ensure you do not miss out on a penny of cash you could save.”

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