Supporting small business relief

Business rates: 2023 to2024 Supporting Small Business Relief

As announced in the Government’s Autumn Statement on 17 November 2022, the 2023 Supporting Small Business Relief scheme will cap bill increases at £600 per year for those businesses losing eligibility for some or all Small Business Rates Relief or Rural Rate Relief as a result of the 2023 Revaluation.

Supporting Small Business Relief was first introduced at the 2017 revaluation, to support ratepayers facing bill increases greater than the Transitional Relief caps due to loss of Small Business Rates Relief or Rural Rate Relief.

Those ratepayers losing some or all of their eligibility for Small Business Rates Relief or Rural Rate Relief will have their bill increase limited to £600 per year.

Those who lose entitlement to Small Business Rates Relief due to their rateable value increasing to 51,000 or more will not have to pay the additional Supporting Small Business Supplement (currently 1.3p multiplied by rateable value) while they are entitled to the 2023 Supporting Small Business scheme.

The 2017 Supporting Small Business Relief scheme was provided to support small to medium businesses who had seen large increases in their bills because of the 2017 Revaluation. They have had 6 years of support to allow them to adjust to their full 2017 list bills. Those ratepayers receiving relief under the 2017 Supporting Small Business Relief scheme in 2022 to 2023 will only be entitled to relief under the 2023 Supporting Small Business Relief scheme until 31 March 2024.

This relief will be applied automatically for all those who are eligible.

Supporting Small Business Relief is subject to the Minimal Financial Assistance (MFA) thresholds. The Subsidy Control Act allows a business to receive up to £315,000 in a 3 year period. If you believe that you will exceed the MFA thresholds by receiving Supporting Small Business Relief, please let us know as soon as possible.

Ways to contact us about Supporting Small Business Relief

If you have questions about Supporting Small Business relief or if you will exceed the MFA threshold, you can contact us.