Small business rate relief
Business properties with lower rateable values
Small business rate relief is a national discount scheme administered by the council on behalf of the government. It is awarded on a sliding scale depending on the size of your Rateable Value. You can apply for a small business rate relief if you occupy a property with a rateable value of less than £15,000.
To qualify, your business must occupy either:
- One property with a rateable value less than £15,000 or
- One main property with a rateable value less than £15,000 plus other properties, if those other properties have individual rateable values of less than £2,900 and the combined total of rateable values does not exceed £28,000.
Relief will only be applied to the property with the largest rateable value. Please note that the above criteria refer to all premises that you occupy, not just the within the London Borough of Bromley.
How much relief will be applied?
The relief depends on the property's rateable value
|
Rateable Value of the main property |
Value of small business rate relief |
|---|---|
|
£1 to £11,999 |
100% |
|
£12,000 to £14,999 |
Percentage reduction on a sliding scale from 100% to 0% |
How to apply for small business rate relief
Please complete all parts of the small business rate relief application form (PDF - 79.36 KB) and return it as soon as possible.
Advising of changes once small business rate relief has been applied, you will need to notify the London Borough of Bromley if you take on an additional premises. If the additional premises means that your business will fall outside of the criteria for receiving small business rate relief, you will be allowed to keep the relief for a fixed period of 12 months before it is removed.
Statutory warning
It is a criminal offence for a ratepayer to give false information when making an application for small business rates relief.
Small Business Multiplier
If your property has a rateable value below £51,000, your bill will be calculated using the small business multiplier, which is lower than the standard one. This is the case even if you do not get small business rate relief. The small business multiplier is 49.9p and the standard multiplier is 54.6p from 1 April 2024 to 31 March 2025.