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Property Rates?
hairy_cornflake_2
Posts: 55 Forumite
Looking to take a business property on for the first time, we have been sent details of a property which we are interested in.
The rent is £15,632 per annum. It then states that the rateable value of the property is £7,200. What does this last part mean?
The rent is £15,632 per annum. It then states that the rateable value of the property is £7,200. What does this last part mean?
I am a director of 3 Counties Mortgage Services Ltd.
www.3cms.com
My views on this website are limited and are not to be taken as financial advice.
www.3cms.com
My views on this website are limited and are not to be taken as financial advice.
0
Comments
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I believe the rateable value is what is used to calculate how much you will pay in business rates to the local council. It would be worth checking who is responsible for paying those business rates, and if it's you then phone the council to ask what business rates would be payable on the property because the answer may shock you!
If I'm wrong about this I'm sure someone will be along to put me straight!Signature removed for peace of mind0
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