April has seen the introduction of a number of changes to small business rate relief schemes across the UK.
From the start of the month, eligibility thresholds have increased in all the four separate schemes running in England, Northern Ireland, Scotland and Wales.
The programmes offer small firms a percentage rebate on their business rates if the rateable value of their premises falls below the qualifying threshold.
Depending on the rateable value and location, some businesses are entitled to a full 100% rebate, while many will be able to claim a 25% or 50% reduction.
In some countries (Wales and Northern Ireland) the rate relief is automatically applied to qualifying businesses, whereas in England and Scotland companies need to apply to their local authority for the support.
For further information about the updated schemes, visit the relevant website:
- England – Valuation Office Agency
- Northern Ireland – Land and Property Services
- Scotland – Scottish Government Small Business Bonus Scheme
- Wales – Welsh Assembly Government website
Source: j4b, 20/04/2010
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