Guide About Small Business Bonus Scheme
by Benny Gala DNS AccountantsThrough the Small Business Bonus Scheme, an owner can get
business rates relief in the UK.
•
The combined rateable value of all your business
premises is £35,000 or less
•
and, the rateable value of individual premises
is £18,000 or less
Small business owners can apply for free for business rates
relief, including the Small Business Bonus Scheme. If anyone proposed to apply for rates relief
on your behalf for a fee, you should avoid these people.
In England, Wales and Northern Ireland the Small
business rates relief is handled differently. To find more about rates
relief for small businesses by UK Government Visit GOV.UK
Small Business Bonus
Scheme in 2019-20
It is planned that the Small Business Bonus Scheme will stay
the same for the year 2019-20.
The benefits of
business rates relief
The total rateable value is based on the value of all your
business premises
The following
business rates reliefs are available:
•
rateable value up to £15,000 - 100% relief (i.e.
no rates payable)
•
rateable value of £15,001 to £18,000 - 25%
relief
If the combined rateable value of more than one business
property is up to £35,000, you are eligible to get 25% business rates relief on
each individual business property with a rateable value of under £18,000.
Business owners can save a maximum of £7,200 in 2018-19. In
2019-20, as the planned poundage is 49 pence, you to save up to £7,350 under
the Small Business Bonus Scheme.
Appropriate action may be taken against you if in your
application you fail to declare additional business properties occupied in
Scotland. It will consider as constitute fraud.
How to Apply for the
Small Business Bonus Scheme
Fill the application form to apply for the Small
Business Bonus Scheme through your local council. You can easily find the
application form your local council's website. In the application form, you
need to fill all the information like name, address and rateable value of the
business property you occupy correctly to avoid constitute fraud charges. Sign
a declaration for anti-fraud purposes. The small business owners do not need to
declare sensitive information such as the number of staff or turnover of the
company.
Need any assistance for Small Business Bonus Scheme contacts DNS Accountants.
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Created on Mar 15th 2019 05:09. Viewed 518 times.