Business rates
Non Domestic Rates, also known as Business Rates is collected by local authorities for most commercial premises and forwarded to central government from where they are redistributed amongst all authorities.
Each commercial property is assessed by the Valuation Office Agency, given a Rateable Value (RV) and entered into the official rating list.
The next revaluation was due to take place on 1 April 2015, however, the Government has announced its intention to postpone the next business rates revaluation in England to 2017.
For 2012 / 13 the multiplier is 45.8p and the small business rate multiplier is 45p.
Small Business Rate Relief
You can get small business rate relief if:
Until 31 March 2014 you will get 100% relief for properties with a rateable value of £6,000 or less therefore you will not pay business rates.
The rate of relief will gradually decrease from 100% to 0% for properties with a rateable value between £6,001 and £12,000.
If you have more than one property you could get small business rate relief if the rateable value of each of your other properties is less than £2,600.
The rateable values of the properties are added together and the relief applied to the main property.
There are a number of other schemes to help with paying business rates including:
Use the "useful links” to find out how the local authority where your property is located can help.