New Shop - Business Rates Question

Stan0000

Hello, I am due to be starting a small shop in Preston and would like to know do I need to apply to pay business rates or will this just happen automatically when I begin renting the shop unit?

Also I believer there is a 50% retail discount in business rates. Is this correct? Is this something I would have to apply for or will this be automatically deducted?

Thankyou

jon81uk

Does this help
Business rates - Preston City Council

Savvy_Sue

Do be aware that it can take a while for the rates bill to arrive! Set the money aside.

Marko61

Small Business Rate Relief (SBRR) can be awarded by either notifying your local council (online form perhaps?) or advising them verbally. Your rateable value needs to be below 12,000 to get a 100% reduction, with a tapered percentage reduction between 12-15k RV. You have to be in rateable occupation to receive it (stock in situ, or trading but machinery or equipment linked to the business doesn't count). If you have more than one building where you are paying business rates you may be ineligible. If SBRR doesn't cover the liability, Retail, Hospitality & Leisure Relief can give a further 50% discount.