What is Business Rate Relief?

A common question that is often raised in the business industry… what is business rate relief? Simply put, business rate relief is where you can receive help for your business costs. Property business rates can take a large toll on earnings, therefore, particularly with small businesses, rate relief can offer a great deal of help when it comes to inflation and those struggling to meet the ever-rising business rate prices that seem to come around all too quickly. When you are starting out, business rates can put a large burden on your plans, impacting investment opportunities and profitability. But, with good management and relief, you can save a significant amount of money.

What constitutes business rates? Most non-domestic properties such as shops, offices, pubs, factories, warehouses, rented holiday homes or guest houses are charged with business rates. In England, these rates are calculated by the rateable value of a business x the standard (or small business) multiplier which = an estimate of your required business rates.

What is Business Rate Relief on an Empty Property and can I qualify?

Empty property business rate relief is slightly different to occupied buildings. If a business property has suddenly become empty, you can avoid paying business rates for up to 3 months. After which, expenses return in full. Business rate relief applies directly to the property, not the owner and it will not renew if there is a change of ownership during this time. If the property is occupied for a short-term duration of 6 weeks or less, you still qualify and the exemption period will continue over this time. If the property is occupied for over 6 weeks, you can no longer claim business rate relief and it will stop at the beginning of that tenancy.

For an empty industrial property or warehouse, you can qualify for business rate relief for up to 6 months. Again, the same occupation rules apply and a short-term letting of 6 weeks or less will not affect your rate exemption.

If you own a property for charitable purposes and occupation, you will remain exempt from such business expenses until the building is no longer empty.

Learn about Business Rate Relief and how The LOWE Group can help you

We pride ourselves in finding the best solutions suited to our clients in order to help them save on empty property business rates. We are dedicated in delivering bespoke strategies to relieve companies of costly, empty rates through our innovative business rate mitigation schemes, which include:

  • Charitable Occupation – We can provide guaranteed savings of between 80 – 100% on business rates. Every charity we work with is registered with the charitable commission and eligible for a mandatory 80% business rates relief. We help with the process and ensure that this is successfully applied for.
  • Workspace Occupation – Through our LOWE Works scheme we can cover all the rates liabilities on vacant properties and at the same time, support small businesses. We take on full management and payment of any business rates liabilities on properties that we manage.
  • Intermittent Occupation – As the most dependable strategy we offer, with a 100% track record of success, intermittent occupation refers to a solution of occupation for six weeks that will activate the right to a further 3 month period of relief from empty rate liability. This is a short-term solution to mitigating business rates.

Why Choose The LOWE Group

We truly care about each of our clients and work hard to make a real difference when it comes to problems such as high business expenses. We find the best solutions suited to each client and take on that responsibility in order to alleviate any stress or financial concerns. Here is how The LOWE Group can help you.

  • We can help you save a minimum of 80% on your Business Rates bill.
  • Our schemes actively contribute to the local community & create positive social impact
  • If you have any questions on ‘what is business rate relief?’ or require further information, please don’t hesitate to contact us and find out how we can best help you!

If you have any questions on ‘what is business rate relief?’ or require further information, please don’t hesitate to contact us and find out how we can best help you!