rate relief

Meanings

1. 1noununcountableBritishbusinessfinance

   A reduction in the local property tax that a business or charity must pay, granted by a local authority.

   Grammar: Uncountable; used with 'get', 'claim', 'qualify for', or 'apply for'.

   Patterns

   • get rate relief
   • claim rate relief
   • qualify for rate relief
   • apply for rate relief

   Small shops in the town center can apply for rate relief if their turnover is low.

   The charity received 80% rate relief on its office building.

   Many rural pubs depend on rate relief to stay open.

2. 2noununcountablebusinessfinance

   A temporary measure that lowers the interest rate on a loan or debt, making repayments easier.

   Grammar: Uncountable; used in financial news and personal finance contexts.

   Patterns

   • offer rate relief
   • provide rate relief
   • seek rate relief

   The bank offered rate relief to homeowners struggling with mortgage payments.

   The government announced rate relief for student loan borrowers during the recession.

   Debt counselors often advise clients to ask for rate relief before missing a payment.

Common combinations

claim rate relief

You must claim rate relief before the end of the tax year.

qualify for rate relief

Only businesses with a rateable value under £12,000 qualify for rate relief.

grant rate relief

The council agreed to grant rate relief to the community center.

full rate relief

Registered charities can get full rate relief on their premises.

Synonyms and how they differ

tax abatement

Used mainly in American English for a similar reduction in property tax; 'rate relief' is the usual British term.

exemption

A complete removal of a tax, whereas 'rate relief' often means only a partial reduction.

Word family

rate noun

The local property tax itself, which 'rate relief' reduces.

relieve verb

To reduce pain or a burden; 'rate relief' relieves the burden of rates.

Commonly confused: rate relief or tax relief?

Practice

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