Business Rates are the means by which businesses
who occupy non-domestic properties make a contribution towards the
costs of local services. Each non-domestic property has a rateable
value, which is set by the Valuation Office (VOA).
It produces and maintains a full list of all rateable values
which are available on their website at
www.voa.gov.uk. The Council then works out
the Business Rates for a property by multiplying the rateable
value by the 'poundage' which the Government sets from April 1
each year. This will change every year to move in line with
inflation.
For the 2008/09 financial year there are two multipliers: the
standard multiplier is 46.2p and the small business rates
multiplier is 45.8p.
Eligible businesses that qualify with a rateable value of not more
than £14,999 will pay at the reduced rate. Business with a rateable
value of below this level will qualify for small business rates
relief. All other ratepayers are subject to the standard
multiplier.
Small Business Rates Relief
SInce 1 April 2005, eligible business with rateable values of
below £5,000 qualify for 50% rate relief. This decreases
on a sliding scale of 1% for every £100 of rateable value over
£5,000 up to £9,999.
The relief is available to ratepayers with either:
-
one property
-
one main property and other additional
properties, providing that the additional properties do not
individual rateable values of more than £2,200 and the combined
rateable value of all the properties is under
£15,000.
You must
apply for rate relief each year and must be eligible of 1 April of
each year. If your business ceases to be eligible on a day during
the year in question, the relief will cease on that day.
For an application form for Small Business Rates Relief see
Anglia Revenues
Empty Property Rates Relief
In general there will be no Business Rates to pay for the first
three months that a property is empty. After that an empty property
rate of fifty percent of the bill that would have been due on the
occupied property will be payable. Industrial buildings, listed
buildings and small properties with a rateable value of less than
£2,200 pay no empty property rates even after the first three
months have expired.
Other Rate Relief
Charities are entitled to relief from rates on any non-domestic
property which is wholly or mainly used for charitable purposes.
Registered Community Amateur Sports Clubs are also entitled to
relief from rates on any non-domestic property that is wholly or
mainly used for the purposes of that club, or that club and other
such registered clubs. In both cases rate relief is given at eight
percent of the bill.
Rate relief is available for businesses with rateable values of up
to £6,000, where the business is set up on previously agricultural
land or buildings. Subject to certain conditions, the business will
get a fifty percent reduction in their rates bill for up to five
years.
Certain types of businesses in rural villages with a population
below 3,000 may qualify for rate relief of fifty percent.
Businesses that qualify for this relief are; the sole general store
and the sole general post office in the village, provided it has a
rateable value of up to £6,000; and the sole pub and sole petrol
station, provided it has rateable value of up to £9,000. The
Council may decide to give up to one hundred percent rate relief to
any other business in a rural village, with a rateable value of up
to £12,000, if it is satisfied that the business is to the benefit
of the community.
For further information contact Business Rates on 01842 756404 or
visit
www.mybusinessrates.gov.uk
See
Making
a payment to the Council for information on how to pay your
business rates
angli