paul the 6th
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| posted on 24/11/09 at 09:57 PM |
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Business Property Rates - Rateable Value and Yearly Charge... help
Hi everyone,
been looking into moving premises nearer to where I live as the 35 mile commute is really starting to grind me down.
I've found a few properties which are pretty much perfect but I'm having trouble getting my head around the rates for the properties...
The nice lady at York Council (and the agent responsible for the property) has advised me that the rateable value is £4500 and that the current yearly
charge is £2231, with the new rateable value £5500 from March 2010...
It turns out that SME's qualify for a 50% relief on properties with an RV of less than £5k, so I'm wondering if the current charge is the
RV with the relief applied? If this is the case, the price increase to £5500 will remove the relief altogether..
On the flipside, I've a feeling I may well be wrong and the RV is in fact used to calculate the yearly charge..
My head is spinning in circles over this as I've so much other stuff to think about at the moment, can someone put me out of my misery with this
please?
thanks in advance 
[Edited on 24/11/09 by paul the 6th]
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mr henderson
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| posted on 24/11/09 at 10:17 PM |
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The RV is indeed used to calculate the rates, the unified business rates are something like 42%, and the rv is mulitiplied by this to get the amount
you have to pay. Usually you can pay monthly, something like 10 payments in advance
The figure should be quoted without any relief being calculated, because the relief appliess to the total amount you are paying, (you could have 2 or
more units)
If the amount is more that £5000 the relief reduces pro rata til you get to 10,000, then no relief at all.
There used to be good advise and info about this on one of the .gov sites
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mookaloid
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| posted on 24/11/09 at 10:19 PM |
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I would ask the nice lady that question
"That thing you're thinking - it wont be that."
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paul the 6th
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| posted on 24/11/09 at 10:21 PM |
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Mr. Henderson, thanks for the reply, I'll have a gander through the direct.gov site and see what I can find...
quote:
Originally posted by mookaloid
I would ask the nice lady that question
I sent her an email back when I got in from work at 9pm tonight but I'm not sure if she'll be in the office this late 
thanks for the advice guys
GoDesign.me.uk - Self Adhesive Vinyl Artwork, Wide Format Printed Artwork and Customised Heat
Pressed Clothing...
--------
http://picasaweb.google.com/haynesroadster - Roadster Photo Build Log
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NOTE:This user is registered as a LocostBuilders trader and may offer commercial services to other users
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woolly
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| posted on 24/11/09 at 10:33 PM |
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the rateable value is the top price less the rate relief hence 4500 you pay 2250.
but gordon bless his little heart gives small business's a further 50% while the RV is under £5000 ? over that and you only have one unit its a
sliding scale. this may be removed at any time.
it a bit naughty that the RV is going up and you need to take further advice as to the actual amount to be paid. in 2010.
and don't take the unit till you know for sure as it can make a lot of difference each month.
woolly
ps what 2ft solvent machine have you
i must type faster or shut up. sorry to have repeted some points
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