Business Rates Increase

[TDIPLC]

Not sure whether this has been raised before (checked the search function).

Anyone in commercial premises know what the their new business rates in going to be? If so, what's the increase and how will you deal with?

I have a feeling this won't end well

[kiethton]

there is a website when you can search for you property and it will tell you both the current and proposed rateable value:

https://www.tax.service.gov.uk/view-my-valuation/s...

[PurpleMoonlight]

Mine are comming down by 5%.

[VolvoT5]

Government doing its best to shaft SMEs as usual?

[HoHoHo]

I have one building going up a lot and one going down a bit

[loafer123]

It is a zero sum game.

The same amount of tax is raised, with the taxable amount related to an updated assessment of rental value.

In principle, this isn't a problem, but in practice, it will be painful for London in particular.

In areas where rents have risen significantly, they should fall as a result to reflect a jump up in total occupational cost.

[21TonyK]

There is another thread running/has run on the fairness of the rates increase.

Personally I am not affected anymore. However, my old restaurant, has just come back onto the market.

Their rates just went up by around 50%.

That combined with increasing rents and energy costs is probably the tipping point for them between making it worthwhile and not in terms of earnings.

Easier to go work <40s hour week for someone else.

[Ian Geary]

21TonyK said:

There is another thread running/has run on the fairness of the rates increase.

Any chance of a link? Tried searching via google, but no luck.

I head on radio 2 that business groups want the tax reviewed because it disadvantages sellers with a physical presence. However i'm sure the dclg carried out a review of business rates less than a couple of years ago..

Transitional relief will help slow the increases initially, but will also slow the savings too (as its a zero sum mechanism).

Personally I don't think the government has the capacity to replace such a long standing tax at present, as leaving the eu is almost too big a job for Whitehall. Even this review has been cobbled together, and is 2 years late..

Nndr raises a lot of revenue, and to capture online business activity would have to move to either sales or profit. Potentially the entire VOA apparatus would then become surplus to requirements, though I think they do council tax stuff as well.

Ian

[V8covin]

Mine has doubled but and it's a big but,my local council have been giving small businesses 100% relief for a number of years.So,my bill will be going from zero to zero

[wc98]

21TonyK said:

Easier to go work <40s hour week for someone else.

the cynical part of me says that is the exact intention . i am surprised at the lack of comment here given the apparent demographic of many posters.

[Balmoral]

As I understand it, 50% will see a reduction, 25% will see no change and 25% will see an increase. 75% facing no change or a reduction seems positive to me.

[nichio3478]

Hi,

I'm a chartered surveyor and specialise in business rates. Whilst this does not make me a particularly interesting person, it does mean i could probably help some of you in relation to queries which arise in this thread.

Any questions, happy to help.

Cheers,

nichio