Will my business qualify for a reduction in Rates?
Any business premises affected by flood damage to such an extent that the premises are no longer occupied will qualify for 100% relief for a minimum of 3 months, or until the business is able to resume trading from the property if longer, up to state aid de minimis, for those properties which meet the following criteria;
For any day:
The business premises was directly impacted by the relevant weather event – for instance flood damage to the property, equipment, and/or stock: or: the business could not function due to lack of access to premises, equipment and/or stock as a result of the relevant weather event, and no alternatives were available
AND
On that day business activity undertaken at the business premises was adversely affected as a result: and
On that day the rateable value of the property was less than £10 million
Empty Properties
The scheme does not cover relief for any business premises which was empty at the time it was flooded as there was no business activity on the premises at the time. Where a business premises becomes empty after the flood then it will receive the normal 3 or 6 months (as applicable) empty property rate free period or will continue to receive the balance of the flooding relief
Can I have my rateable value reduced?
If you believe that the rateable value of your premises should be reduced you should discuss this with the Valuation Office. Their general advice is that while flooding will not automatically mean a reduction, individual circumstances will apply and you should contact them as quickly as possible.
