Business rates reduction and relief for smaller businesses remains a topical subject. Set by the government, business rates contribute towards local services costs as provided, and collected by, the local authority.
Since April 2017, the Government have been helping smaller businesses grow by assisting with Business rate relief. Ratepayers in properties with a rateable value of £50,999 or less will have their bills calculated using a lower small business non-domestic rating multiplier. This is instead of the national non-domestic rating multiplier. This is vital for economic growth, rates for businesses using only one property remain reduced by up to 50% with a rateable value less than £12,000, but must notably there is a 100% business rate relief for properties with a rateable value not exceeding £6,000. Welcome news for small businesses wanting to minimise their costs and focus on development.
At Evegate Business Park all units under 400 sq ft (37.2 m²) are exempt from business rates.
Plus since the 1st April 2017, the 100% business rate relief will be doubled to cover units of a rateable value of £12,000. This approximately means a unit of about 800 sq ft (75m²) will be exempt from business rates. That is good news.
For further information on business rates relief see Kent County Councils Website or any other query about the benefits of basing your business at Evegate, please contact us on 01303 812334 or firstname.lastname@example.org