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News Release from: The Forum of Private Business | Subject: Small Business Rate Relief
Edited by the Buildingtalk Editorial
Team on 05 September 2006
Missing out on Small Business Rate
Relief?
The Forum of Private Business has warned firms that they are in danger of missing out on Small Business Rate Relief
The Forum of Private Business (FPB) has warned firms that they are in danger of missing out on Small Business Rate Relief (SBRR), with just under a month to go before applications must be in for the year Under the scheme, which was introduced in April 2005, each business that has premises with low rateable value can claim relief from their business rates
This article was originally published on Buildingtalk on 7 Aug 2006 at 8.00am (UK)
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The FPB Campaigns Manager, Victoria Carson, said take up of the scheme had been slow.
"There are many firms who are either unaware of SBRR, or who do not realise they qualify for it." Businesses with rateable values of below £5,000 are entitled to 50% rate relief.
The relief decreases on a sliding scale by 1% for every £100 of rateable value over £5,000, up to £10,000.
In June a survey by the Local Government Association suggested that less than half of the 870,000 small businesses across England that qualify for the scheme, had applied for it.
Eligible ratepayers must apply for the relief each year, and Miss Carson warned that businesses who had not applied for SBRR were running out of time.
"Applications for the relief must be received by local authority within six months of the end of the financial year in question".
For the 2005/06 financial year the last date for applications will be 30 September 2006.
It is possible that firms could save up to £2,500 per year.
FPB members can call the Member Information Service free of charge on 01565 626 001 to find out how they can claim SBRR.
Non members can also call to find out more about the FPB or how to become a member, alternatively they can visit www.fpb.org.
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