Another little bit of help for small business came out of the Chancellor’s Autumn Statement on 29th November 2011. The Small Business Rate Relief Holiday which previously gave small businesses 100% relief on their business rates if they meet certain criteria has been extended until 31st March 2013. The March 2011 Budget had previously announced this was to end on 30th September 2012.
Chartered Surveyor and Director of Aiken Commercial, Gary Aiken, advises that Small Business Rate Relief (SBRR) gives 100% rate relief on businesses with a rateable value under £6,000 and for businesses with rateable value between £6,000 and £12,000 there is a tapering of the relief from 100% down to 0%.
The Chancellor’s full report is available on-line at
http://cdn.hm-treasury.gov.uk/autumn_statement.pdf
