Coping with the economic downturn
See our coping with the economic downturn pages for sources of
advice and
support available to SMEs on a range of issues
affecting your business.
Circumstances under which rates reductions might apply
include:
The rated property is empty
From 1 April 2008 most property that has been empty for more
than three months – or in the case of industrial property and
stores, for more than six months –no longer receives relief from
rates. Therefore, after the initial three or six month rate-free
period expires, empty property will be liable for 100% of the
occupied business rate.
Most current exemptions from empty rate continue to apply and
some properties such as those that are listed [under the Planning
(Listed Buildings and Conservation Areas) Act 1990] or whose values
are less than £2,600 will continue to be completely exempt when
empty.
Premises occupied by a
charity
Premises occupied by charities and wholly and mainly used for
charitable purposes are entitled to a reduction in the rates
payable. Relief is given at 80% of the rates bill (if applicable,
after taking into account transitional arrangements).
If you consider that your organisation qualifies for this
charitable rate relief download the
Mandatory Charitable Rate Relief PDF form
(52kb)
The Common Council has discretion to remit all or part of the
remaining 20% of the charity's bill. The Common Council also has
discretion to remit all or part of any rates bill in respect of
property occupied by certain bodies not established or conducted
for profit.
If you wish to apply for discretionary rate relief please
contact the rates section at the following address:
The City of London Rates section
Liberata UK Ltd,
4th floor
125 Wood Street
London
EC2V 7AN
Email
citybusinessrates@liberata.com or
tel 020 7332 1318 quoting the reference number on your
bill.