Commercial - Business rates
Rate liability
All non-domestic property in England and Wales was subject to a revaluation with effect from April 1, 2010.
Uniform business rates
The rating multiplier for 2011/12 is 43.3p in the pound. This accounts for an additional supplement of 0.7p in the pound for the small business relief. The City of London, in addition, charge a supplementary rate of 0.4p similar to that of last year.
In addition, rate bills will be adjusted to take account of any reliefs and exemptions as appropriate and transitional relief.
Transitional relief
The Government's transitional scheme caps increases which are funded by capping decreases as follows:
| |
2011/12 |
2012/13 |
2013/14 |
2014/15 |
| Upwards Cap (Sm. Business) |
7.5% |
10% |
15% |
15% |
| Upwards Cap (Lg.Business) |
17.5% |
20% |
25% |
25% |
| Downwards Cap (Sm. Business) |
30% |
35% |
55% |
55% |
| Downwards Cap (Lg. Business) |
6.7% |
7% |
13% |
13% |
The above adjustment is made to the liability for 2010/11 excluding the small business supplement (SBS) and then adjusted for inflation at 4.7%. The SBS, and any other supplements, are then added to the liability for 2011/12, based on the new 2010 rateable value.
2010 rating revaluation
Your rateable value upon which your rate liability is calculated represents the notional rental value of your property as at April 1, 2008. However, any subsequent changes to your property or location can be taken into account.
It is unlikely that the Valuation Office Agency responsible for maintaining the rating list had the resources to monitor any changes which might have occurred since the above valuation date. Vacancy rates can be taken into account as a physical factor and may lead to reductions in rating assessments.
The largest increases were seen by occupiers of offices in prime locations in central London which saw increases in their rateable values of up to 100%.
How do I appeal against my assessment?
Ratepayers are advised by the VOA to take professional advice in relation to their assessments. Cluttons has a proven track record of successfully appealing against rating assessments on their client’s behalf and offer a free rating audit. Furthermore, if it is decided that an appeal is worthwhile, Cluttons will normally work on a no win no fee basis.