Business rates relief
Small business rate relief
This relief is only available to ratepayers who apply to Wandsworth Council and who occupy either:
- One property, or
- One main property and other additional properties providing those additional properties each have a rateable value which does not exceed £2,599.
Rateable value of property
The rateable value of the property mentioned in (a), or the aggregate rateable value of all the properties mentioned in (b), must not exceed £17,999 outside London or £25,499 in London on each day for which relief is being sought. If the rateable value, or aggregate rateable value, increases above those levels, relief will cease from the day of the increase.
Rate relief for eligible businesses
Eligible businesses with rateable values of below £6,000 receive 100% rate relief on their liability. This relief decreases on a sliding scale of 1% for every £60 of rateable value over £6,000, up to £12,000.
Eligible businesses with rateable values of between £12,001 and £25,499 will have their liability calculated using the small business multiplier.
- The Small Business Rate multiplier is 48.4p (48.0p for 2015/16)
- The Standard Rate multiplier is 49.7p (49.3p for 2015/16)
Small Business Rate Relief
The Small Business Rate Relief scheme is funded by a supplement on the rate bill of those businesses not eligible for the relief. This supplement is built into the standard multiplier.
Small businesses already receiving relief will be able to continue to receive it without reapplying for it following the 2010 revaluation (or subsequent revaluations) provided that they remain eligible for it.
Change in circumstance
The circumstances in which eligible businesses receiving relief are required to notify the council of a change are:
- Where the rateable value of any property you occupy in another council area increases. Your notification must be made to us in writing.
- Should you occupy any property, which is not mentioned, on your previous application for relief, notification should be made by way of a new application to the council.
If your change in circumstances is such that you are no longer eligible for the relief, entitlement will end from the date of change.
These forms can be downloaded and on completion returned to the address shown on the form.
Contact the Business Rate Service
Should you have any queries regarding these changes, please contact the Business Rate Service between 9am and 5pm, Monday to Friday.
Telephone: 020 7378 5941