The Supporting Small Business (SSB) relief scheme was introduced in the Spring Budget held on 8 March 2017. The Chancellor announced the scheme would be available to ratepayers facing a loss of rural or small business rate relief from the 2017 revaluation. This scheme was due to end on 31 March 2022, with some ratepayers facing an increase to their full rates bill from 1 April 2022.
However, at the Budget on 27 October 2021, the government announced it would extend the current SSB relief scheme for one year to 31 March 2023.
Accessing the relief
The SSB relief will be applied automatically to your business rate account if you are eligible.
Who benefits from this scheme?
The SSB relief helps ratepayers who lost some or all their small business or rural rate relief due to the change in their rateable value in 2017.
The SSB relief limits the increase per year in the bills of these ratepayers to whichever is higher of either:
- a percentage increase per year of 5%, 7.5%, 10%, 15% and 15% from 2017/18 to 2022/23 (all plus inflation). For the first year of the scheme, the percentage increase is taken against the bill for 31 March 2017 after small business rate relief or rural rate relief,
- a cash value of £600 per year (£50 per month). This cash minimum increase ensures that ratepayers who pay nothing or a minimal amount in 2016/17 after small business rate relief pay something.
While eligible for the SSB relief scheme, those whose 2017 rateable values are £51,000 or more will not be liable to pay the supplement (1.3p) to fund small business rate relief.
As with all reliefs, the amount awarded will be recalculated should there be a change of circumstances (such as a change of rateable value).