Industrial unit for personal use
Discussion
Hello,
I'm not a business and an a PAYE worker.
My house has a teeny garage and this year I'm considering buying a nearby industrial unit to use as garage/workshop space.
I WOULD NOT RUN A BUSINESS FROM IT.
Would I have to pay business rates on it. The current owner just uses it to store their s
t, so I'd hope that was OK.
I'm not a business and an a PAYE worker.
My house has a teeny garage and this year I'm considering buying a nearby industrial unit to use as garage/workshop space.
I WOULD NOT RUN A BUSINESS FROM IT.
Would I have to pay business rates on it. The current owner just uses it to store their s
t, so I'd hope that was OK.crofty1984 said:
Hello,
I'm not a business and an a PAYE worker.
My house has a teeny garage and this year I'm considering buying a nearby industrial unit to use as garage/workshop space.
I WOULD NOT RUN A BUSINESS FROM IT.
Would I have to pay business rates on it. The current owner just uses it to store their st, so I'd hope that was OK.
Unfortunately you will as they are not actually called Business rates - they are non-domestic rates. i.e. rates for non domestic use which unfortunately includes storing stuff.I'm not a business and an a PAYE worker.
My house has a teeny garage and this year I'm considering buying a nearby industrial unit to use as garage/workshop space.
I WOULD NOT RUN A BUSINESS FROM IT.
Would I have to pay business rates on it. The current owner just uses it to store their s
t, so I'd hope that was OK.I am looking to do the same but struggling to find a suitable unit near me - Cambridge.
There are some exemptions to non domestic rates but in all likelihood, you will have to pay them. In which case, read carefully the rateable value stuff to work out what might be due on a place of a given size/rate.
Bob
I've done something similar for the last few years - I used to run a business from a unit but when that ended I used it to store my general st
So yes, I paid business rates (non domestic, sorry) but you need to figure out the value compared to other options. I leased the unit and I've just decided not to renew, then the rates bill came though for 2017-2018, the new re rated rates that is...
They've re rated it, then applied a small business rates relief and the net to pay.... zero
Bit annoying in a way but hey ho.
Also look out for utilities - they seem to like to charge commercial spaces entirely differently to domestic.
Also, check out service charges etc for the estate.
t So yes, I paid business rates (non domestic, sorry) but you need to figure out the value compared to other options. I leased the unit and I've just decided not to renew, then the rates bill came though for 2017-2018, the new re rated rates that is...
They've re rated it, then applied a small business rates relief and the net to pay.... zero
Bit annoying in a way but hey ho.
Also look out for utilities - they seem to like to charge commercial spaces entirely differently to domestic.
Also, check out service charges etc for the estate.
LivingTheDream said:
I've done something similar for the last few years - I used to run a business from a unit but when that ended I used it to store my general st
So yes, I paid business rates (non domestic, sorry) but you need to figure out the value compared to other options. I leased the unit and I've just decided not to renew, then the rates bill came though for 2017-2018, the new re rated rates that is...
They've re rated it, then applied a small business rates relief and the net to pay.... zero
Bit annoying in a way but hey ho.
Also look out for utilities - they seem to like to charge commercial spaces entirely differently to domestic.
Also, check out service charges etc for the estate.
This, I would imagine depending on the size and therefore value of the unit, that you would be eligible for small business rates relief.t So yes, I paid business rates (non domestic, sorry) but you need to figure out the value compared to other options. I leased the unit and I've just decided not to renew, then the rates bill came though for 2017-2018, the new re rated rates that is...
They've re rated it, then applied a small business rates relief and the net to pay.... zero
Bit annoying in a way but hey ho.
Also look out for utilities - they seem to like to charge commercial spaces entirely differently to domestic.
Also, check out service charges etc for the estate.
https://www.gov.uk/apply-for-business-rate-relief/...
jas xjr said:
do you have any farms near you ? they often have outbuildings that are available to rent.
That's something I was looking at if this fell through. Definitely a good idea. I was thinking if I could get it cheap enough that the mortgage wasn't an enormous amount more than to rent a garage I'd have done that. I'll look into that relief though as well.
Be careful of farm units, in my experience the rents can be very high, and dont forget that they will still be subject to business rates if the VO finds out about them.
Farm units tend to be let at £x per week, ensure you work out what that is on a sq ft per annum basis so it can be compared with other units
Farm units tend to be let at £x per week, ensure you work out what that is on a sq ft per annum basis so it can be compared with other units
crofty1984 said:
Hello,
I'm not a business and an a PAYE worker.
My house has a teeny garage and this year I'm considering buying a nearby industrial unit to use as garage/workshop space.
I WOULD NOT RUN A BUSINESS FROM IT.
Would I have to pay business rates on it. The current owner just uses it to store their st, so I'd hope that was OK.
Look up the rateable value here : https://www.gov.uk/correct-your-business-ratesI'm not a business and an a PAYE worker.
My house has a teeny garage and this year I'm considering buying a nearby industrial unit to use as garage/workshop space.
I WOULD NOT RUN A BUSINESS FROM IT.
Would I have to pay business rates on it. The current owner just uses it to store their s
t, so I'd hope that was OK.If its less than £12K then you get 100% relief i.e. no rates payable.
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