Budget 2016 – Business Rates

Welcome cuts to business rates for small businesses

From April 2017, small businesses that occupy property with a rateable value of £12,000 or less will pay no business rates. Currently this full relief from business rates in only available for businesses that occupy properties with a value of £6,000 or less.

Businesses with a property with a rateable value between £12,000 and £15,000 will receive a tapered rate of relief.

As a result of these changes, 600,000 small businesses will pay no business rates at all and an additional 50,000 will benefit from tapered relief with effect from April 2017.