How To Get Business Rate Relief In London
The term Business Rates in generally used for the non-domestic rates, which is a form of tax, collected from occupied non-domestic property. The standard multiplier to obtain a value of an occupied non-domestic property is 42.8p in Wales, 43.3p in England, 43.7p in City of London for the year 2011/12. These business rates were applied in 1990 after the introduction of the Local Government Finance Act 1988 in England and Wales. The business rates are charged over the value of the property, however, the government also provide relief in some cases, which is termed as Business Rate Relief. Most people are not aware how to get Business Rate Relief in London, such folks can consult this guide for better understanding of this process.
Visit: Business Rate Relief Website
Instructions
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1
Eligibility:
In order to get business rate relief, a person should first check his or her eligibility. As per the criteria mentioned by the government of the United Kingdom, if a person is legally responsible to pay business rates on one property only with a chargeable value of not more than £18,000 per year or £25,500 in Greater London then, he/she may be considered eligible for paying low business rates as he/she falls under the small business rate relief category.
The business rates relief applies to other type of properties as well for instance if a property is occupied by an aid organization, non-profit organisation or if it is unoccupied. -
2
Make A Claim:
Once a person has determined that he or she is eligible for Business Rate Relief then they should get in touch with their council. The council will then give the eligible person a Rate Relief claim form so he or she can claim back their Business Rate Relief. The person should simply fill in that claim form and send it to his or her council. The Rate Relief claim form is not difficult to fill, as it will take approximately 10 minutes to complete it.
