{"id":221935,"date":"2023-08-16T06:12:54","date_gmt":"2023-08-16T06:12:54","guid":{"rendered":"https:\/\/www.pearlaccountants.com\/?p=221935"},"modified":"2023-08-08T12:40:57","modified_gmt":"2023-08-08T12:40:57","slug":"small-business-rates-relief","status":"publish","type":"post","link":"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/","title":{"rendered":"Small business rates relief 2022\/23"},"content":{"rendered":"\n<p>Small businesses play a vital role in the UK economy, driving growth and innovation and providing employment opportunities. However, in recent years, small businesses have faced significant challenges, including the impact of the pandemic. To support these businesses and the UK&#8217;s economic recovery, the government has extended its support through the Small Business Rates Relief scheme.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/#What_is_Small_Business_Rates_Relief\" title=\"What is Small Business Rates Relief?\">What is Small Business Rates Relief?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/#Who_is_eligible_for_Small_Business_Rates_Relief\" title=\"Who is eligible for Small Business Rates Relief?\">Who is eligible for Small Business Rates Relief?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/#How_much_support_is_available_through_the_scheme\" title=\"How much support is available through the scheme?\">How much support is available through the scheme?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/#Benefits_of_the_Small_Business_Rates_Relief_scheme\" title=\"Benefits of the Small Business Rates Relief scheme\">Benefits of the Small Business Rates Relief scheme<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/#Reduced_Business_Rates\" title=\"Reduced Business Rates\">Reduced Business Rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/#Access_to_Government-Backed_Loans_and_Grants\" title=\"Access to Government-Backed Loans and Grants\">Access to Government-Backed Loans and Grants<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/#Supporting_the_UKs_Economic_Recovery\" title=\"Supporting the UK&#8217;s Economic Recovery\">Supporting the UK&#8217;s Economic Recovery<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/#Challenges_Facing_Small_Businesses\" title=\"Challenges Facing Small Businesses\">Challenges Facing Small Businesses<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Small_Business_Rates_Relief\"><\/span>What is Small Business Rates Relief?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.gov.uk\/apply-for-business-rate-relief\/small-business-rate-relief\">Small Business Rates Relief<\/a> is a government scheme aimed at providing financial support to small businesses. The scheme reduces business rates for eligible properties, providing a much-needed boost to the finances of small business owners. In addition to reducing business rates, the scheme also provides eligible businesses with access to government-backed loans and grants, helping to provide the financial support needed to grow and expand.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_is_eligible_for_Small_Business_Rates_Relief\"><\/span>Who is eligible for Small Business Rates Relief?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to the latest statistics, over 1.5 million small businesses in England are eligible for Small Business Rates Relief. To be eligible, businesses must meet certain criteria, including being based in England, having a rateable value of less than \u00a351,000, and being a small business with a turnover of less than \u00a315 million per year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_much_support_is_available_through_the_scheme\"><\/span>How much support is available through the scheme?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The exact amount of support available through the Small Business Rates Relief scheme varies depending on the size and type of business. On average, eligible businesses are benefiting from a reduction of approximately \u00a31,000 per year, equating to an estimated \u00a33 billion of support for small businesses in 2022\/23.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_of_the_Small_Business_Rates_Relief_scheme\"><\/span>Benefits of the Small Business Rates Relief scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reduced_Business_Rates\"><\/span>Reduced Business Rates<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One of the key benefits of the Small Business Rates Relief scheme is the reduction in business rates for eligible properties. This reduction provides a much-needed boost to the finances of small business owners, helping to ease the financial burden faced by many businesses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Access_to_Government-Backed_Loans_and_Grants\"><\/span>Access to Government-Backed Loans and Grants<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In addition to reducing business rates, the scheme also provides eligible businesses with access to government-backed loans and grants, helping to provide the financial support needed to grow and expand. For example, the <a href=\"https:\/\/www.gov.uk\/guidance\/apply-for-a-coronavirus-bounce-back-loan\">Bounce Back Loan scheme<\/a> has provided over \u00a338 billion in loans to small businesses since its launch in 2020, helping to support the UK&#8217;s economic recovery.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Supporting_the_UKs_Economic_Recovery\"><\/span>Supporting the UK&#8217;s Economic Recovery<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Small Business Rates Relief scheme is a vital support for the UK&#8217;s small businesses, helping to ease the financial burden faced by many business owners and providing the support they need to grow and thrive. By providing financial support and reducing business rates, the scheme is helping to support the UK&#8217;s economic recovery and ensure that small businesses have <a href=\"https:\/\/startmybusiness.com\/startup-tools\/compliance\/funding\">the resources<\/a> they need to succeed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Challenges_Facing_Small_Businesses\"><\/span>Challenges Facing Small Businesses<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Despite the support provided by the Small Business Rates Relief scheme, many small business owners still face significant challenges. The impact of the pandemic has been felt across the country, and many businesses have struggled to survive, with almost 60,000 small businesses closing in the UK since the start of the pandemic.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In conclusion, the Small Business Rates Relief scheme remains a vital support for the UK&#8217;s small businesses, helping to ease the financial burden faced by many business owners and providing the support they need to grow and thrive. With over 1.5 million small businesses eligible for the scheme, the UK government&#8217;s continued support is a positive step towards a strong and sustainable economic recovery for the country. By providing financial support and reducing business rates, the Small Business Rates Relief scheme is helping to support the UK&#8217;s small businesses and ensure a bright future for the country&#8217;s economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Small businesses play a vital role in the UK economy, driving growth and innovation and providing employment opportunities. However, in recent years, small businesses have faced significant challenges, including the impact of the pandemic. To support these businesses and the UK&#8217;s economic recovery, the government has extended its support through the Small Business Rates Relief <a href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  Small business rates relief 2022\/23<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":221937,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2208,2198,2211],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>small business rates relief 2022\/23 UK<\/title>\n<meta name=\"description\" content=\"Get the latest statistics and information on the UK&#039;s Small Business Rates Relief scheme, a vital support for the country&#039;s economic recovery in 2022\/23.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"small business rates relief 2022\/23 UK\" \/>\n<meta property=\"og:description\" content=\"Get the latest statistics and information on the UK&#039;s Small Business Rates Relief scheme, a vital support for the country&#039;s economic recovery in 2022\/23.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pearlaccountants.com\/blogs\/small-business-rates-relief\/\" \/>\n<meta property=\"og:site_name\" content=\"Pearl Chartered Accountants &amp; 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