1 / 7

Business Ratepayers Consultation

Business Ratepayers Consultation. The effect on our community. Rod Urquhart – 31 st January 2011. Changes in 2010. New Rating List from 1 April 2010 Small Business Rate Relief Scheme changed. Transitional Schemes New Multipliers Empty Rate threshold at £18,000 Rv for 2010/11.

cecil
Download Presentation

Business Ratepayers Consultation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Business Ratepayers Consultation The effect on our community Rod Urquhart – 31st January 2011

  2. Changes in 2010 • New Rating List from 1 April 2010 • Small Business Rate Relief Scheme changed. • Transitional Schemes • New Multipliers • Empty Rate threshold at £18,000 Rv for 2010/11

  3. Small Business Rates Relief • Current take up rate is 99.00+% • Must be ratepayers only business within England (or other business premises must have RV of less than £2,600 not totalling £18,000 or more) • Eligible properties with an RV of £6,000 or below will get an automatic 100% relief from Oct 2010 to Sept 2011. After this date relief reverts to a maximum of 50%. • Eligible properties with an RV greater than £6,000 but less than £12,000 will receive relief on a sliding scale with each extra £120 of RV over the £6,000 threshold equating to 1% less relief • Eligible properties with an RV between £12,000 and £18,000 will pay their RV x lower multiplier (0.07p in the pound lower)

  4. Empty Properties • Properties < £18000 RV are exempt in 2010/11 • De-minimus level of £2600 from 2011-12 • Exemptions still in place (Liquidation, Dec’d, Bankruptcy, Prohibited by Law etc) • Offices > £2600 RV liable for 100% charge after 3 months • Factories / Warehouses > £2600 RV liable for 100% charge after 6 months.

  5. Multipliers & Transition for 2011/12 • Properties with a Rateable Value > £18000 = 43.3p • Small Business Rate Multiplier 42.6p • Transitional Relief is being reduced by 17.5% for Properties whose Rateable Value > 18000 & by 7.5% for Properties < 18000 Rateable Value • Transitional Premium is being reduced by 6.7% for Properties whose Rateable Value > 18000 & by 30% for Properties < 18000 Rateable Value

  6. Other reliefs • Mandatory (Charitable) Relief • Mandatory Rural Settlement Relief • Discretionary top up Relief • Discretionary Relief • Hardship • S44a (Part Occupation)

  7. Happy to help Please contact the Business rates team on 01842 756568 if you would like to discuss any individual cases.

More Related