The low down on business rates?

blaque*angel

In my area there are people whos business rates have been "frozen" pay no rates etc and there are companies like me who have to pay our rates monthly.

why is this?

pitkin2020

Same thing here. I have just completed a project for a new hairdressers and we were chatting about her new venture and the costs etc. She told me that she wasn't having to pay any business rates on the shop because it was under a certain rateable value and was basically exempt. Whether that means its exempt forever, a set period or just frozen I don't know.

Sure someone else will have a better explanation.

lincroft1710

Explained here

http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1086075605

pitkin2020

lincroft1710 wrote: »

Explained here

http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1086075605

relevant bit

Between 1 October 2010 and 31 March 2013, eligible ratepayers will receive small business rate relief at 100 per cent on properties up to £6,000 (rather than 50 per cent), and a tapering relief from 100 per cent to 0 per cent for properties up to £12,000 in rateable value for that period.

The temporary Small Business Rate Relief increase will therefore apply throughout the whole of the 2012-13 billing year (until 31 March 2013). The relief was originally doubled by the government until September 2011, but this was extended by the Budget in March 2011, and then extended again in the 2011 Autumn Statement to take account of economic conditions.

heretolearn_2

The shame is that a lot of small businesses are missing out on this as it has to be claimed for, and isn't automatically awarded.

blaque*angel

pitkin2020 wrote: »

relevant bit

Between 1 October 2010 and 31 March 2013, eligible ratepayers will receive small business rate relief at 100 per cent on properties up to £6,000 (rather than 50 per cent), and a tapering relief from 100 per cent to 0 per cent for properties up to £12,000 in rateable value for that period.

The temporary Small Business Rate Relief increase will therefore apply throughout the whole of the 2012-13 billing year (until 31 March 2013). The relief was originally doubled by the government until September 2011, but this was extended by the Budget in March 2011, and then extended again in the 2011 Autumn Statement to take account of economic conditions.

My brain is a bit scrambled today, finding it hard to focus.lol
My property's rateable value is worth £10,000 so where does this leave me? do I get 50 percent off?

pitkin2020

blaque*angel wrote: »

My brain is a bit scrambled today, finding it hard to focus.lol
My property's rateable value is worth £10,000 so where does this leave me? do I get 50 percent off?

You will get relief but its a tapering amount between 100% and 0% on your value. You would need to contact the local council IIRC to get the exact amount of relief your entitled to and apply for the relief.

Acc72

heretolearn wrote: »

The shame is that a lot of small businesses are missing out on this as it has to be claimed for, and isn't automatically awarded.

This is correct and unbelievable - the rebate/discount should be applied at source.

It takes literally 2 minutes to apply for the rebate - but only if you know about it ! ............

I wonder how many small business are unaware of this ?

leveller2911

heretolearn wrote: »

The shame is that a lot of small businesses are missing out on this as it has to be claimed for, and isn't automatically awarded.

Not so here, small business rate relief is automatic and doesn't have to be applied for. We come under the Valuations office at Eastbourne and the local district council just sent out letters saying that we qualified ...