4. Business rates
To estimate your business rates you should multiply the rateable value for your business with the ‘multiplier’ set by the government. A multiplier is the number of pence per pound of rateable value that you will have to pay in business rates, before any relief or discounts are deducted.
Small business rate relief
You can get small business rate relief if:
you only use one property and its rateable value is less than £12,000
you have more than one property and the rateable value of each of your other properties is less than £2,600
More information is available online at www.gov.uk/apply-for-business-rate-relief/small-business-rate-relief
Charities rate relief
Charities and amateur community sports clubs can apply for relief of up to 80 per cent if a property is used for charitable purposes. More information is available at www.gov.uk/apply-for-business-rate-relief/overview
The rates you pay on your business property depend on its ‘ratable value’. This is calculated by the Valuation Office Agency (VOA). If you think the current value for your property is wrong you can appeal to the VOA online.
A ‘material change’ is a physical change to part or all of your property. This can change its ratable value. Material changes can include changes to how the property is used new developments in the area new roads or changes to access routes if the VOA becomes aware of a material change, they’ll look at how it affects the rental value and whether this means the ratable value needs to be adjusted. More information about appealing is available at www.gov.uk/business-rate-appeals/before-you-appeal