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Small Businesses Will Benefit From Automatic Rate 0
Legislation is to be introduced that will enable local authorities to automatically apply rates discount through the Small Business Rate Relief Scheme.
The Small Business Rate Relief Scheme awards a percentage rate relief for businesses occupying non-domestic property in England with a rateable value of less than £18,000 (£25,000 in London) currently requires businesses to submit an annual application to their local authority.
The standard scheme applies a 50% discount to properties with a rateable value of less than £6,000 and a scalable discount for properties with a rateable value of between £6,000 and £12,000. Businesses with a rateable value of between £12,000 and £18,000 (£25,000 in London) will have their rate calculated using a ‘small business multiplier’.