Small businesses are reminded to submit applications for Small Business Rate Relief (SBRR) before the end of the month.

The SBRR is available to ratepayers who occupy single properties with rateable values below £15,000 (or £21,500 in London) and offers reduced payments of up to 50 per cent for small firms. The deadline for applications for the 2006/7 financial year is 30 September.

It also applies to those who occupy multiple properties which each have a rateable value that is below £2,200, where the total value is less than the above threshold.

Previously, businesses could apply annually for rate relief but due to government changes, the next round of applications will not be until September 2010.

Ratepayers need to notify their local authority within four weeks if there is an increase in the value of any business property located outside the council area which provides their SBRR discount. They must also notify their local authority of any additional properties they occupy.

Philip Moody, Senior Member Services Representative at the Forum of Private Business, said:

“Many business owners will be unaware of this deadline. It does not apply to everyone, but they need to check their rates to see if they are eligible, and get their applications in if they are.”

Source: The Forum of Private Business, 13/09/2007