Apply for Small Business Bonus Scheme - Business Rates Calculator

Small Business Bonus Scheme: The Things that you need to know

You can get business rates relief through the Small Business Bonus Scheme if:

• the combined rateable value of all your business premises is £35,000 or less
• and, the rateable value of individual premises is £18,000 or less

You can apply for Small Business Bonus Scheme (SBBS) for free. In other words, the government does not charge you anything while you apply for small business bonus scheme for your business. It's free and as such you should under all circumstances not let anyone apply on your behalf for a fee.

You can use business rates calculator to estimate your business rates bill.

Overview

Some properties are eligible for discounts from the local council on their business rates. This is called ‘business rates relief’.

Please note that Scotland, Wales and Northern Ireland. have different ways of handling business rate relief.

• small business rate relief
• rural rate relief
• charitable rate relief
• enterprise zone relief
• hardship relief

Your council automatically applies:

• exempted buildings and empty buildings relief
• transitional relief if your rates change by more than a certain amount at revaluation
• relief for pubs

Contact your local council if you’re not getting a relief you think you’re entitled to.

The government has announced there will be extra relief for businesses in England with the biggest rates increases as a result of the 2017 revaluation.

Business Rates Calculator

This calculator gives an estimate of your business rates bill for 2018-19 based on the information you enter. It also provides information about the council responsible for levying the rates on your property.

However, before you start you need to keep the following important information handy:

To use the calculator you'll need:

• The property postcode
• Or the street

Reliefs (discounts) and net liability may not be comprehensive if the property receives other discretionary reliefs. You need to get in touch with your local council for additional information.

In addition to any discounts as displayed by the calculator, you may also be entitled to other reliefs from your local council, including:

• Fresh Start relief – for the first year of re-occupation of certain long-term empty properties.
• Rural rate relief – for businesses delivering certain key services like petrol stations, pubs, hotels, post offices, general stores, etc in areas that are designated as rural areas. Enterprise area relief – for designated growth sectors within set geographic areas
• Renewable energy generation relief – for premises whose sole purpose is the on-site generation of renewable energy
• Charitable relief – for registered charities and not-for-profit organisations
• Disabled persons relief
• Day nursery relief
• Transitional relief
• District heating relief
• Business growth accelerator relief

It is of utmost importance to note that small business rates relief is different for England, Wales and Northern Ireland. Visit GOV.UK's rates relief for small businesses to find out more. In 2018-19, you may not have to pay any business rates at all if the rateable value of your property is £15,000 or less.

The benefits

Based on the total rate able value (RV) of all your business premises, the following reliefs are available:

• RV up to £15,000 - 100% relief (i.e. no rates payable)
• RV £15,001 to £18,000 - 25% relief

If you have more than one business property, with a combined rateable value of between £18,001 and £35,000, you will get 25% relief on each individual property. However, it will not exceed £18,000.

The maximum amount that you can save in 2018-19 is £7,200.

Your failure to disclose another property in your application will amount to fraud and you may be charged a penalty for it.

Apply for Small Business Bonus Scheme (SBBS):

You can apply for SBBS through your local council by completing a simple application form. This asks for your name, address and rateable value of the business property you occupy and to sign a declaration for anti-fraud purposes. You are not required to divulge any sensitive information such as turnover or number of staff.

If your premises are affected by local disruption

You may get a temporary relief when it comes to your business rates if your premises are affected by severe local disruption like flooding, building or roadwork, etc.

About the author

Sumit Agarwal
Sumit Agarwal (ACMA ACA India), the Managing partner of dns accountants is a highly respected accountant with expertise in helping owner-managed businesses.