Reductions to Small Business Bonus Scheme in the Scottish Budget (explained)
The Scottish Budget 2023-24, delivered by the Deputy First Minister on 15th Dec 2022, sets out plans to reduce the amount of Business Rates relief some small business will receive through the Small Business Bonus Scheme. Read the SGF Press Release here: Reduced Threshold for Rates Relief Could Punish Struggling Businesses
As set out in the chart below, 100% SBBS relief will continue to be available for properties with a rateable value up to £12,000. However, relief will taper from 100% to 25% for properties with RVs between £12,001 and £15,000. Previously the threshold for 100% relief was set at £15,000 RV.
Non-Domestic Rates will see a freeze to the Basic Property Rate.
