ChatterBank1 min ago
Small Business Rate Relief
We bought a business in February of this year. We immediately informed the Business Rates Office of the change of ownership. A month later the old business owner received a rating Billing saying the Business had no rates to pay as it attracted SBRR.
We applied for our £10,000 grant and have been told that no SBRRelief is in place ,even though the ratings letter dated 09/03/2020 states that it does.
My question is : Is Small Business Relief against the business or does it only apply to the person running the business and is not transferable to the new owner?
We applied for our £10,000 grant and have been told that no SBRRelief is in place ,even though the ratings letter dated 09/03/2020 states that it does.
My question is : Is Small Business Relief against the business or does it only apply to the person running the business and is not transferable to the new owner?
Answers
I can't see how SBRR could be transferable because the original owner of the business has to declare either that his business only uses one property or that (a) non of his other properties has a rateable value above £2,899 ; AND (b) the total rateable value of all his properties doesn't exceed £20,000 (or £28,000 in London). When a new owner takes over the...
16:25 Fri 24th Apr 2020
I can't see how SBRR could be transferable because the original owner of the business has to declare either that his business only uses one property or that
(a) non of his other properties has a rateable value above £2,899 ; AND
(b) the total rateable value of all his properties doesn't exceed £20,000 (or £28,000 in London).
When a new owner takes over the business premises, the local council has no way of knowing whether the declaration signed by the previous owner is still valid. (For example, a guy operating a takeaway business from just one shop might sell out to a firm that operates dozens of Burger King franchises across the region. The premises would then cease to qualify for SBRR).
So it seems apparent to me that a NEW application will have to be submitted in your case.
(a) non of his other properties has a rateable value above £2,899 ; AND
(b) the total rateable value of all his properties doesn't exceed £20,000 (or £28,000 in London).
When a new owner takes over the business premises, the local council has no way of knowing whether the declaration signed by the previous owner is still valid. (For example, a guy operating a takeaway business from just one shop might sell out to a firm that operates dozens of Burger King franchises across the region. The premises would then cease to qualify for SBRR).
So it seems apparent to me that a NEW application will have to be submitted in your case.