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Business rates help!
STRAWB
Posts: 314 Forumite
Hi Guys hoping someone can help me i am looking to rent my first office/storage unit in Somerset the rate set for this unit as of 2010 is £4350 but he has also offered me the office next door which the rate is set at £2225 now what i want to know is i would like both but how does rate relief work for 2 separate offices on these figures and how much would i pay if i just took the first office and how much would i pay if i took both? Hope that makes sense.
OFFICE ONE 2005 FIGURE £3200 2010 FIGURE £4350
OFFICE TWO 2005 FIGURE £1725 2010 FIGURE £2225
OFFICE ONE 2005 FIGURE £3200 2010 FIGURE £4350
OFFICE TWO 2005 FIGURE £1725 2010 FIGURE £2225
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Comments
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If you occupy 2 adjoining units, the Valuation Office Agency will merge the 2 rating assessments so there will be only one rateable value which not be equal to the sum of the existing 2.If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0
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So there is no way of telling how much i would have to pay before i commit to renting as i rang my local council they were not much help told me i could only apply once i was in the premises!0
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I'm ex VOA and although we dealt with the rateable value part of the rates equation, we would never attempt to work out the actual amount payable because only the council could calculate what if any relief was applicable.If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0
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Ah ok just a bit worried because i will have 2 offices even thou in the same building i will not be eligible for rent relief which is very important to us!0
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you can get SBRR without the two properties being merged, the vlaues are low enough to qualify providing the higher RV property is your main one.I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0
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I think I am right in saying, in case you are not already aware, the RV or rateable value, is not usually the amount of rates you pay.
and she finally worked out after 4 months, how to make that quote her sig! :rotfl:I will pay jexygirl the compliment of saying that she invariably writes a lot of sense!0 -
I suppose i will just have to badger my local council for a answer!0
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I think I am right in saying, in case you are not already aware, the RV or rateable value, is not usually the amount of rates you pay.
Your right, the RV is multiplied by the applicable multiplier to give the payable rate. The rates payable (at the standard rate, not with SBRR) would be £4350 * 0.414 = £1800.90 and £2225 * 0.414 = £921.15.I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0 -
From 1st October any rates under £6000 will be free.Kind Regards
Bill0 -
What!!!! can you tell me where i can find this out?0
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