Business Rates query
Discussion
Hi there folks, I'd thought I'd run this passed the members here before I approach the local council/rating office.
My circumstance is as follows:
I purchased a warehouse/industrial unit about 1.5 years ago for my business (which has now been here for about a year). I own the property myself and lease to the limited company. The limited company has been paying business rates on the whole premises, however being rather large for my business requirements (the premises is 7500sq ft in total) about 4000sq ft is not used by the business (its either just empty space or I use it to store some personal junk from time to time!).
I'm wondering then if I'm paying too much - should the rateable value be calculated only based on the area of the property used by the business? Given I'm the owner I also have some flexibility on how the lease contract is set up as well, going forward.
And just to finish with a rant, I really do think businesses are hugely over-taxed for rates and its annoying me. If GB is serious about helping businesses (especially manfacturing industries) through these times surely heres an effective way to help!
My circumstance is as follows:
I purchased a warehouse/industrial unit about 1.5 years ago for my business (which has now been here for about a year). I own the property myself and lease to the limited company. The limited company has been paying business rates on the whole premises, however being rather large for my business requirements (the premises is 7500sq ft in total) about 4000sq ft is not used by the business (its either just empty space or I use it to store some personal junk from time to time!).
I'm wondering then if I'm paying too much - should the rateable value be calculated only based on the area of the property used by the business? Given I'm the owner I also have some flexibility on how the lease contract is set up as well, going forward.
And just to finish with a rant, I really do think businesses are hugely over-taxed for rates and its annoying me. If GB is serious about helping businesses (especially manfacturing industries) through these times surely heres an effective way to help!
Put simply the occupier is liable for the rates, so your company in this case.
You could reduce their demise but then you as the freehold would become liable subject to 6 months grace.
Unfortunately someone's got to pay.
I should say I'm not a rating specialist but if you want a more detailed chat PM me and I'll chat to a few of the guys at my firm.
You could reduce their demise but then you as the freehold would become liable subject to 6 months grace.
Unfortunately someone's got to pay.
I should say I'm not a rating specialist but if you want a more detailed chat PM me and I'll chat to a few of the guys at my firm.
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