business rates question

[dcw@pr]

i have an office in london, on which we get a discount on the rates of something like 50%. Why is this?

I am looking at another office outside the city where the rateable value is £16k - will i get a 50% discount on this too?

[TimCrighton]

It depends on the reason for the reduction in the first place.

You may be claiming small business rate relief?

If this is the case then your discount will not apply if you have more than one office, or if the rateable value exceeds £15k pa.

Try looking at www.mybusinessrates.gov.uk for a bit more help

[dcw@pr]

perfect answer, thanks a lot

[dcw@pr]

got some further questions,

With the place I have in mind, the RV is £16k. Does this mean that unless there are an exceptional circumstances the rates will be £16k a year?

Secondly, is there a way of appealing the amount, i.e. is it possible/likely that it could be reduced down to £15k and hence fall into the small business relief band?

[TimCrighton]

The rateable value is the value attributed to the property by the VOA (Valuation Office). Its an assessment of its rental value in the year 2000.

You will pay 42.6% (for the current year) of the RV as rates payable.

You can appeal the assessment, but it will have been in place since 2000 so I think you'd be chancing it, unless you can prove its unusually high for some reason. They are in the process of doing a revaluation for 2010 at the moment.