Businesses now have the options of applying for business rate relief or deferring part of their bill.
Business Rates Relief
In England, small businesses are generally entitled to small business rate relief if the rateable value of their premises is less than £15,000.
Deferred Payment Scheme
As of 31 July businesses all over England can apply to their local council to defer part of their 2009-10 business rates bills thanks to a new government scheme, announced by Local Government Minister Rosie Winterton.
Special provisions mean that:
- all business ratepayers can apply to their local council to put off 3 per cent of their whole year's 2009/2010 business rates bill
- those who accrued a rise in their bill because transitional relief has come to an end can now defer 60 per cent of the increase
Local councils are now sending out a simple one page application form with details of how to apply for this scheme and small business rate relief to every ratepayer in England.
Businesses should apply to local authorities as soon as possible. Once approved businesses will pay reduced instalments for the remainder of the financial year or until payment is complete. Businesses that submit their application next month can expect to see their bills reduced by October.
Local Government Minister Rosie Winterton said:
"The business rates deferral scheme will provide real help now to businesses facing financial pressures in the current climate.
"Letters are already on their way to every ratepayer explaining how to apply for this new scheme, as well as detailing existing help for small businesses that could potentially halve their total bill."
"This is on top of other help for business from Government, including free business health checks, skills training, and help for almost 100,000 large businesses to defer over £1.7bn in other taxes."
For further details of the full range of support and information available to businesses visit: www.businesslink.gov.uk/realhelp or speak to a BusinessLink adviser on 0845 600 9006.
Application forms for the new scheme can be found at: www.communities.gov.uk/documents/localgovernment/doc/1295587.doc