Small business rate relief
Since 2017 you don’t have to pay business rates on a property with a rateable value of £12,000 or less.
The small business rate relief will be available to you if you have a property with a rateable value between £12,001 and £15,000. The rate of relief will go down gradually from 100% to 0%.
If you use more than one property you’ll keep getting any existing relief on your main property for 12 months.
You can still get small business rate relief on your main property after this if both of the following apply:
- none of your other properties have a rateable value above £2,900
- the total rateable value of all your properties is less than £28,000
You will continue to receive relief in each new valuation period provided you continue to satisfy the conditions for the relief which apply at the time about the property and the ratepayer.
If you're not receiving the relief and you think you should, please contact us:
- phone: 020 8315 2255
- email businessrates@lambeth.gov.uk
- apply via the form for small business rate relief (PDF, 480KB)
If you’re receiving the relief, you must notify us if certain changes in circumstances occur. These changes are:
- taking up occupation of an additional property
- an increase in the rateable value of a property you occupy in an area outside of Lambeth
If you’re a small business but don’t qualify for small business rate relief
You’ll pay the small business multiplier if your property has a rateable value below £51,000.
- the small business multiplier will be 0.499p
- the standard multiplier will be 0.512p