City Rates

BUDGET 2021.. Business Rates Relief Extended for another 3 months..
What does this mean to you?

Do you want Business Rates Holiday to be extended?

Free Business Rates Advice for Any Business Type in the UK.

Thousands of eligible businesses still have not taken advantage of government grants their business can get. They have until AUGUST 28TH to apply. Contact us to find out what you need to do.

How Accurate Are Business Rates?
Rateable values are set in relation to rents applicable for each building. Yet in the past few years, many retailers have achieved rent reductions of an average of 30% as leases come up for renewal, or by renegotiating rents or using the insolvency device called corporate voluntary arrangements (CVAs). Market conditions are so difficult that some have managed to get zero-rent deals, though only for a limited period.

Rents, the templates for setting business rates, are in free-fall but rateable values remain at the levels set in 2015. This seems scarcely fair.

The 2017 revaluation showed that more than half of all retailers had previously been paying too much in rates: the rateable values of their premises were therefore cut (Summers, 2017). A report from Colliers showed that

324 commercial centres would gain from lower rateable values,
76 would see their values rising.
Rateable values in Newport (South Wales) would drop by 71% and in Lowestoft (Suffolk) by 41%. In parts of London the increase would be more than 100% (for example Dover Street and Westfield Shepherd’s Bush).

What is the Government Doing?
The government has announced that revaluations will now occur every three years. Inflation-proofing of business rates is to be done using CPI rather than the outdated RPI. Smaller stores (with RV less than £12,000) pay no rates at all, although if their businesses do well or take over the next-door shop they will be required to pay business rates. This may stop such beneficiaries of the system investing in their business by taking over the property next door, because they would then be clobbered by business rates.
There ae also concessions for rural stores, including the last shop or the last pub in the village.
Government Transitional Arrangements prevent any retailer given a reduced rateable value from benefitting immediately. The new levels of business rates are applied in stages up to 2022. This means that firms which have been over-paying business rates probably for the last decade now have to subsidise retailers that have been under-paying and whose rateable values have now increased. This seems to be against the principles of natural justice.
The government is to introduce in 2020 a Digital Services Tax of 2% on turnover for ecommerce, digital search co

Guidance for owners who may be eligible for reliefs. Check Below.

Business Rates Guidance
GOV.UK
you have to contact your local council to see if you’re eligible and apply for:
• small business rate relief
• rural rate relief
• charitable rate relief
• enterprise zone relief
• hardship relief
• retail discount
• local newspaper relief
Your council automatically applies:
• exempted buildings and empty buildings relief
• transitional relief if your rates change by more than a certain amount at revaluation
Contact your local council if you’re not getting a relief you think you’re entitled to.
Find out what support is available for businesses, including business rates grants or holidays, because of coronavirus (COVID-19).
If your premises are affected by local disruptionYou may get a temporary reduction in your business rates if your premises are affected by severe local disruption (like flooding, building or roadworks).
You can report that something external to the premises has affected its value using the Valuation Office Agency service.

Guidance for small business owners.


Business Rates Guidance
GOV.UK
you have to contact your local council to see if you’re eligible and apply for:
• small business rate relief
• rural rate relief
• charitable rate relief
• enterprise zone relief
• hardship relief
• retail discount
• local newspaper relief
Your council automatically applies:
• exempted buildings and empty buildings relief
• transitional relief if your rates change by more than a certain amount at revaluation
Contact your local council if you’re not getting a relief you think you’re entitled to.
Find out what support is available for businesses, including business rates grants or holidays, because of coronavirus (COVID-19).
If your premises are affected by local disruptionYou may get a temporary reduction in your business rates if your premises are affected by severe local disruption (like flooding, building or roadworks).
You can report that something external to the premises has affected its value using the Valuation Office Agency service.

Are you a struggling business in these uncertain times?
We help businesses take advantage of all government support available.

https://www.gov.uk/government/news/top-up-to-local-business-grant-funds-scheme

Top-up to local business grant funds scheme A discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme.

All you need to know about business rates.

Business rates Business rates are charged on most non-domestic properties - who has to pay, how your rates are calculated, getting a revaluation, what to do if your premises change

Is your Rateable below £51,000?
Has you local authority denied you £10k or £25k grant?
Are you still paying business rates for 2020-2021?
Are you in financial hardship?
Or are you just unsure what help and support you can get for business rates?
Contact us for no obligation support and assistance.

Unsure about your rateable value, check here now

Find and check your business rates valuation How to check the rateable value of your business property - compare it with other properties, request changes to your valuation and challenge the business rates you've been charged