SGF launch online tool to help retailers calculate their Business Rates
The Scottish Grocer’s Federation has, this week, launched an online resource to help convenience retailers calculate their Business Rates Relief and Transitional Relief for 2023/24.
From 1st April 2023, support provided by the Scottish Government’s Small Business Bonus Scheme will be tapered, according to a properties Rateable Value (RV). Reducing the amount of relief some small businesses will receive.
Business Rates support will now be on a sliding scale, from 100% for properties with an RV up to £12,000, down to 0% for properties with a RV over £20,000. Previously the threshold for 100% relief was set at £15,000 RV.
In addition, Ministers have announced a Revaluation Transitional Relief scheme, which will introduce a cap on rates liabilities due to revaluation. Caps will be based on business size.
SGF Chief Exec, Dr Pete Cheema OBE said: “In January, SGF and our colleagues across the retail sector launched a campaign calling on the Scottish Government to bring rates relief in line with our counterparts south of the border.
“The reduction in support through the Small Business Bonus Scheme this year, will see many businesses hit with an unexpected bill, at a time when many are already facing unprecedented challenges.
“SGF has set up this online resource to help convenience retailers and small businesses understand how the new tapered system will impact them and help them plan for the coming financial year.”
The online calculators provide an estimate for a business’s SBBS and Transitional relief, using formulae provided by the Scottish Government and based on the figures input by the user. They are freely available to use on the SGF website:
SBBS calculator: www.sgfscot.co.uk/sbbs-business-rates-relief-calculator
Transitional Relief calculator: www.sgfscot.co.uk/revaluation-transitional-relief-calculator