What are Business Rates?
Business rates are a tax applied to commercial properties — similar to council tax, but for workspaces. The amount charged depends on factors such as the location, size, and condition of the property.
At Meanwhile Creative, we don’t include business rates in our licence agreements. That’s because around 95% of our tenants are eligible for full relief through a government support scheme — meaning many don’t pay a penny.
Small Business Rate Relief (SBRR) is a government initiative designed to help small and independent businesses grow by reducing or eliminating business rates altogether.
You could be eligible for full relief if:
You only occupy one business premises (or two in Wales)
Your business has fewer than 50 employees
The rateable value of your space is less than £12,000 (or £6,000 in Wales)
While you’ll likely know whether you meet the first two criteria, the third — the rateable value — can be a bit unclear.
That’s where we come in.
Get in touch with our team and we’ll let you know the rateable value of the space you’re interested in. The good news? The vast majority of our workspaces fall well below the £12,000 threshold, making them eligible for full relief.