Business Rates Revaluation and SBBS effective 1st April 2017

Revaluations normally occur every 5 years when Scotland’s Assessors conduct a revaluation exercise to determine the rateable value of all private non-domestic properties. 

You may already have notification of your new valuation, if not you can click onto the Central Scotland’s Assessors Website to see how the changes may affect your property and how you can appeal the new valuation.

On or about the 15th March 2017, notices intimating the final 2017 Revaluation Roll entries will be issued to all interested parties (the Proprietor, Tenant and Occupier) for each entry in the Revaluation Roll.

Small Business Bonus Scheme

As you may be aware, you can get business rates relief through the Small Business Bonus Scheme (SBBS) if the combined rateable value of all your business premises in Scotland is £35,000 or less.

From 1st April 2017, you may not have to pay any business rates at all if the rateable value of your property is £15,000 or less, this has increased from £10,000.  

Based on the total rateable value (RV) of all your business premises, the following reliefs are proposed:

  • RV up to £15,000 – 100% relief (i.e no rates payable)
  • RV £15,001 to £18,000 – 25% relief

If you have more than one business property, with a combined rateable value of between £18,001 and £35,000, you will get 25% relief on each individual property with a rateable value of under £18,000.

Based on proposed values, you can save a maximum of £6,990 in 2017-18.

Apply for Small Business Bonus Scheme

You must apply for SBBS through your local council by completing a simple application form. This asks for your name, address and rateable value of the business property you occupy and to sign a declaration for anti-fraud. You don’t need to declare sensitive information such as turnover or number of staff.

If you are a Ceteris tenant and have any queries please contact Angela Ogilvie, Operations Director, on 01259 721454.