Business Rate Recaluation Awaited

The new rateable values on which business rates for the year beginning 1 April 2017 will be available on line this month.

You can register to receive notification of the new assessments (see leaflet attached).

The new assessments are based on values that were taken at 1 April 2015.

In most cases there will be changes and early indications are that some rateable values on the Business Park will be reduced.

A reduction in value may not be the only saving as if the new rateable value has fallen below the Small Business rate relief threshold of £12,000 you could qualify for 100% relief in April 2017. The relief tapers to zero between £12k and £15k. Remember you have to apply for it and there are rules relating to the number of premises you occupy.

Tenants receiving notification of revised assessments should tell the Estate office – as a co-ordinated response to these where there are inaccuracies is important.