Business Rates

[Chrisgr31]

The Autumn Financial Statement contained a number of business rates related announcements for England.

These included the rate in the pound not being increased effective from 1 April 2023 - however many rateable values will change.

There will be transitional relief for those whose rate bills will be increasing by certain amounts as a result of the revaluation. The amount of the cap is based on your rateable value in three different bands.

If you rates are falling following the revaluation there will no surcharge so the bill will be based on the reduced RV.

There will be a relief scheme for retail, hospitality and leisure businesses, albeit capped so limited benefit for those with several units.

There will be relief scheme for those who are coming out of small business rate relief to protect them from large increases in rates payable.

There are lots of firms that specialise in business rates, some are better than others and some - well ........

If you have any questions about business rates, or are approached by a firm that believes you should appeal do feel free to ask.

[Vixpy1]

Thanks, i looked and enjoyed the 50% increase in my RV..

The retail and hospitality discount is going from 50% to 75% , is there an upper RV value at which this relief stops ?

[Chrisgr31]

There is no RV upper limit for the retail, hospitality relief BUT there is a cap on the total amount of relief a business can have in rtes payable which is £110,000.

What sort of property you in, and what is the RV?

[Vixpy1]

Chrisgr31 said:

There is no RV upper limit for the retail, hospitality relief BUT there is a cap on the total amount of relief a business can have in rtes payable which is £110,000.

What sort of property you in, and what is the RV?

its a warehouse, 4000sq foot, RV £21k raising to £29k in 2023. We get retail relief.

[Rufus Stone]

Mine is reducing by 5%. There's a turn up for the books.

Link for people to find theirs:

https://www.gov.uk/find-business-rates

[voicey]

Thanks for this thread and info. Looked my place up and we're going from £13,500 to £16,750 so I guess we're losing what little Small Business Relief we had - joy!

[RicksAlfas]

Rufus Stone said:

Mine is reducing by 5%. There's a turn up for the books.

Link for people to find theirs:

https://www.gov.uk/find-business-rates

Thanks for the link. Interestingly we were re-classified as retail but that still shows us as warehouse.
It also shows a massive increase!

[robdcfc]

Just looked at mine and if its correct the doors are being shut

[AndyC_123]

Would a landlord have to pay (and pass on to tenant) or is tenant liable to business rates?

[MyM2006]

AndyC_123 said:

Would a landlord have to pay (and pass on to tenant) or is tenant liable to business rates?

Would depend on the lease I guess, generally the tenant is responsible for rates.


Our rates are only going up 28%, great...

[andy_ran]

45% increase for us here in the RV

[RicksAlfas]

This plus increased wages is going to be tough for a lot of manufacturing/warehousing/other things you can't do from home.
If this government are business friendly I'd hate to see what the other lot would do!

[Rufus Stone]

Crickey, I feel like I won the rating lottery.

[surveyor]

Do not forget that most relief schemes are based on rates payable, not Ratable Value.

Most businesses will not see massive increases on day one.

[Chrisgr31]

Vixpy1 said:

its a warehouse, 4000sq foot, RV £21k raising to £29k in 2023. We get retail relief.

You should still qualify then

[Chrisgr31]

voicey said:

Thanks for this thread and info. Looked my place up and we're going from £13,500 to £16,750 so I guess we're losing what little Small Business Relief we had - joy!

There is a new form of relief being introduced called Supporting Small Business Relief which will cap how much a business losing small business relief bill can go up by. You may benefit - I haven’t seen the full rules yet.

[Chrisgr31]

RicksAlfas said:

Thanks for the link. Interestingly we were re-classified as retail but that still shows us as warehouse.
It also shows a massive increase!

It may be your use of the property qualifies for retail, hospitality and leisure relief but the property is warehouse. So for example warehouse which has a retail element may qualify for the relief but it’s still a warehouse.

There is transitional relief for those facing large increases, but if you RV is over £100k it is a large increase before the relief kicks in.

[Chrisgr31]

AndyC_123 said:

Would a landlord have to pay (and pass on to tenant) or is tenant liable to business rates?

Legally the occupier is liable for paying rates. Under the terms of some leases the landlord pays. This can lead to problems where either the landlord doesn’t pay the rates, or the tenant doesn’t pay the landlord rent.

I would always recommend the occupier pays to avoid issues.

[Chrisgr31]

robdcfc said:

Just looked at mine and if its correct the doors are being shut

Don’t forgot the bill is about half the value, and there are reliefs available if rates are going up a lot. Feel free to message me if you want me to look at your case

[robdcfc]

Chrisgr31 said:

robdcfc said:

Just looked at mine and if its correct the doors are being shut

Don’t forgot the bill is about half the value, and there are reliefs available if rates are going up a lot. Feel free to message me if you want me to look at your case

Going from 12500rv at the minute to 22750rv according to the online check.

Somehow the base rate has gone from 42.50 to 75 per m3