Small Businesses: Business Rates
The question
To ask the Chancellor of the Exchequer, whether her department plans to review the Small Business Rates Relief threshold in line with inflation.
Answered by Dan Tomlinson
Small Business Rate Relief (SBRR) is available to businesses with a single property below a set RV. Eligible property under £12,000 will receive 100 per cent relief, which means around a third of properties in England pay no business rates at all. There is also tapered support available to properties valued between £12,000 and £15,000.
The Government is supporting small businesses to grow. At Budget, the Government announced the extension of SBRR so that businesses opening second premises after Budget day can retain their SBRR for three years, tripling the current allowance.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →