Business Rates Information
Business Rate Deferral Scheme 2012
Help is available to deal with the Retail Price Increase in 2012-13 business rate bills. The government has decided to put in place a scheme which will give businesses the option of spreading the increase over 3 years to help businesses manage cash flow during the downturn. Further details of the scheme together with a factsheet and an application form can be found on the Business Rate Deferral Scheme 2012 page.
If you have any queries regarding rateable values please contact the HMRC Valuation Office at Wycliffe House, Green Lane, Durham DH1 3UW or on 03000 501400.
Temporary increase in Small Business Rate Relief extended to March 2013
The 2011 Autumn Statement announced that the Government would continue with the more generous level of Small Business Rate Relief until March 2013. Eligible ratepayers will continue to receive relief at 100 percent on properties with rateable values of not more than £6,000 with a tapered relief of between 100% and 0% for properties with rateable values between £6,001 and £12,000 for that period.
Business Rates – Important News to Owners of Empty Properties
With effect from 1st April 2011 the rateable value threshold below which empty non domestic properties are exempt from business rates will revert to £2600 from £18000.
The threshold was £2200, before it was temporarily increased in 2009 – 10 and 2010 – 11. However, it has now been uprated to £2600 in line with the general movement of property values at revaluation.
This change effectively means that those non domestic properties previously exempt from rates because their rateable value was between £2600 and £18000 will now have to pay the full rates with effect from 1st April 2011.
We plan to issue next years Business Rate bills in early March 2011.
If you are currently the owner of an empty non domestic property and you either sell or lease your property please let us know.