New and Improved Property
From 1 April 2018 you may be entitled to relief on New and Improved properties if:
- your premises is a new build property.
- you have to expand or make improvements to your property.
This is sometimes referred to as business growth accelerator relief.
New build premises
If your property is a new build, and entered onto the Valuation Roll on or after 1 April 2018, you will not have to pay business rates until 12 months after the property is occupied.
Relief can also be awarded where there is an increase in rateable value to an existing property, on or after 1 April 2018, caused by a new build and the property is continuously unoccupied from that date - relief will apply for 12 months after the property is occupied.
Relief will not apply where the property is a new entry on the Valuation Roll for rates but was previously shown as an entry in the Council Tax Valuation List.
Expanding or making improvements to your premises
If you have to expand or make improvements to your property the business rates you are charged will not change for 12 months. They will continue to be based on your old rateable value for this period of time.
To qualify for this relief the increase in rateable value must have been caused by:
- the refurbishment or expansion of the property; or the erection or construction of one or more buildings that form part of the property; and
- is not caused by the combination, division or reorganisation of the property; or a change in use of the property.
Applying for relief
To qualify for relief you must make an application to the Council. The Assessor will tell the Council about any new build properties or changes in rateable values resulting from improvements to your property. The Council will then identify if you may be entitled to receive any relief and will issue an application form to you, which must then be returned to the Council. If you think you may be entitled to receive this relief and have not received an application form please email the Council's Revenues team for further advice.
