Rate this!   Urgent - action by 30 September

This time our letter focuses on a missed opportunity for many businesses so you may want to pass this on you your clients and contacts.  

Small businesses are loosing out on business rates relief given to them as of right.  According to research by the FSB take up has only been around 50%. This is money that is rightly due for businesses but still in the hands of the government!

Relief is given up to 50% of rates payable even if there is no reduction in rateable value. The basis is broadly as follows:

In general

• A single property less than rateable value (RV) £21,500 in London, £15,000 elsewhere.

But especially

• Properties less than RV £5000 will get 50% relief
• Properties RV between £5,000 and £9,999 this decreases 1% every £100. (So RV £7,500 will get 25% relief.)

Businesses must apply to their Rates Authorities. Relief can be backdated to 1 April 2005 but to get this backdated relief an application must be made by 30 September 2006.

For more information click on the link below:
 
http://www.mybusinessrates.gov.uk/rates/other_reliefs/index.html#1

This is part of a regular series of topical articles provided exclusively by RDN Surveyors. If you would like further information or add your comments please reply to this e mail or contact Roger Nelson on 0800 902 0466