New business rates explained

Business rates are a tax commercial occupiers have to pay based on the rental value of their commercial property which were last reviewed in 2010.

Your rateable value is based on similar properties and their average rental values. It is worth noting that you only have to pay business rates if your rateable value is from £12,000 per annum and if you pay £12,000 to £15,000 per annum you will benefit from small business rates relief. This is when your payment is ‘phased’ over a period of time.

If a property owner disagrees with the rateable value set by the government, they may appeal via the new business rates appeals system known as ‘check challenge appeal’:

  • CHECK - the first and arguable the most important part of the process is to check the information held by the Valuation office is correct and if not this needs correcting as a matter of importance.
  • CHALLENGE - is the rentable figure which is used as the basis for your rates correct and if not this will need to be amended.
  • APPEAL - and finally if you still feel your rating assessment is incorrect you can attend a rating tribunal at which point you can present your case of evidence to the Valuation office and an independent panel will make the decision. If you lose you will be charged a cost.


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