Small Business Rate Relief is changing
From 1st April 2017, the threshold for Small Business Rate Relief is being increased.
If the rateable value of a property is £12,000 or less the business will receive a full rebate.
A sliding scale then operates between £12,001 to £15,000 Rateable Value. The cut off point will be £15,000.
It is anticipated that these changes will benefit a large number of businesses in North Tyneside.
Also, on 1st April 2017 a new rating list is set to be published so businesses have just over one month left to challenge their current rates liability and potentially obtain a backdated refund. After this date, the Valuation Office Agency will not consider any appeals for business rates paid over the past seven years.
Do not contact a rating agent or take up an offer of a rating agent to assist you business as they will charge you a fee until the next rating list is compiled in 5 years time.