More Help For Small Businesses- Cllr Michael Headley

Small businesses in Bedford Borough are being urged to find out if they qualify for extra financial help.

Small businesses in the Borough received a financial boost from 1st October when small business rate relief was doubled for businesses occupying the smallest commercial properties. The extra rate relief will last for one year and means the smallest businesses will have nothing to pay until 30th September 2011.

The extra help is awarded automatically where a qualifying business already receives rate relief but the Council is also encouraging all other small business owners to find out if they are eligible as well.

Councillor Michael Headley, Finance Portfolio Holder said: "Business rates often account for a large portion of the overall expenditure of a small business. This relief can make a big difference to ratepayers and I urge all small businesses to make sure they are taking full advantage of it. From 1 October the existing scheme has been enhanced and it means that some businesses will have no rates at all to pay for 12 months."

Small business rate relief can be claimed by a business that only occupies a single property and where the property's rateable value is less than £18,000. The rateable value is shown on the rates bill or can be found on the Valuation Office Agency's website at www.voa.gov.uk.

The amount of rate relief depends on the rateable value and for properties with a rateable value less than £6,000 there will be no rates to pay from October 2010 to September 2011. Where the rateable value is between £6,001 and £12,000 rate relief is worked out on a sliding scale.

Businesses can check whether they qualify for the rate relief by contacting the Council on 01234 221797. More information and an application form is available on the Council's website: www.bedford.gov.uk/business/business_rates