Business rates: New and Improved Property Relief (Business Growth Accelerator)
As of 1st April 2018, business rates relief may be available to ratepayers of new build properties and to those improving or expanding an existing property, resulting in an increase in rateable value.
New build properties
If your business premise is a new build and entered the Valuation Roll for the first time, from 1st April 2018, no rates will be payable for 12 months from the date of occupation. Relief can also be awarded where premises are entered onto the Valuation Roll for the first time, but which remain unoccupied.
If your premises was previously entered in the Valuation Roll (as part of another entry) prior to 1st April 2018, no relief can be considered.
Expanded or improved premises
Where premises are expanded or improved, from 1st April 2018, resulting in an increase in rateable value, the resultant increase in the amount of rates to be paid will not be payable for 12 months. In effect, the rates to be paid will be based on the rateable value prior to any such improvements being made.