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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.
It is possible that some firms could save up to £2,500 per year.
FPB Campaigns Manager, Victoria Carson, explained: "There are many firms who are
either unaware of SBRR, or who do not realise they qualify for it.
"Applications for the relief must be received by local authority within six
months of the end of the financial year in question."
Businesses with rateable values of below £5,000 are entitled to 50% rate relief,
which decreases on a sliding scale by 1% for every £100 of rateable value over
£5,000, up to £10,000.
Source:
RedAlert
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