Lay My Hat

Just seen our 2017 rates revaluations - an increase of between 25% and 33% so it's now at £800 - £900 per bed space.

Has everyone else had similar increases?

I haven't had an email alerting me to them being available online. However I went digging around and found something online. It appears mine in Norfolk haven't been changed.

Here's the link I used. https://www.tax.service.gov.uk/view-my-valuation/search

27% increase for me - calculates at approx £500 per bed space, or £1000 per bedroom.

I can't quite see how this has been arrived at....

Just had a look and mine seems to have gone up 50% from £2000 to £3000.

I've never actually had to pay any business rates because of the small business rate relief. I was just wondering if this would continue next year and a quick google found this:
http://www.bbc.co.uk/news/business-35823970

If I'm reading it right it implies anyone with a rateable value under £15k will be exempt from the business rate tax permanently?

SusanMay wrote:
If I'm reading it right it implies anyone with a rateable value under £15k will be exempt from the business rate tax permanently?

That can always change. A new chancellor may have different ideas. Also if you have a few holiday cottages or indeed rent another business premises in your own name, you may not get relief on any of them.

It isn't very clear is it? Our increase is from £3150 to £4650. But what does the £525sq meter to ££775.00 sq meter mean? Is that the bed space?

Our rateable is £3800 according to the HMRC website but I can't really make out how much we would pay can anyone help , we only have 1 property . Thanks

Sapper wrote:Our rateable is £3800 according to the HMRC website but I can't really make out how much we would pay can anyone help , we only have 1 property . Thanks

I don't think you'll pay anything...

newtimber wrote:
I don't think you'll pay anything...

Is there anywhere that defines that Newtimber?

I'm baffled as to the huge amount of contradictary information about small business exemption or relief.

I was told by my MP a year or so ago (yeah yeah ... vote seeking I think) that I would 99% not be paying business rates from 2017, because of the low turnover of my business (less that 80K), but I have yet to see anything that confirms this and I am none the wiser as to how this can be determined from the rateable value, unless data that we all provided about turnover before the revaluation is going to be looked at individually on a property by property basis.

All smoke and mirrors .......????

See this link Annew

https://www.gov.uk/apply-for-business-r ... f/overview

The second page explains it all.

zebedee wrote:See this link Annew

https://www.gov.uk/apply-for-business-r ... f/overview

The second page explains it all.

Oh no! Since the rateable value of my properties is going to be above £2,600 from 2017 (as they've increased their value by 33%), it appears we've going to lose our small business rate relief.

zebedee wrote:See this link Annew

https://www.gov.uk/apply-for-business-r ... f/overview

The second page explains it all.

Thanks Zebedee but I had already read that (I already get small business relief) but it only talks about up to 2017. I understood (maybe mistakenly) that things are changing from April 2017, but can't really find any firm info about this apart from in the BBC website article Nemo found about the last Chancellor's budget.

I've just set my accountant the task of finding out more - so will keep you posted.

newtimber wrote:

zebedee wrote:See this link Annew

https://www.gov.uk/apply-for-business-r ... f/overview

The second page explains it all.

Oh no! Since the rateable value of my properties is going to be above £2,600 from 2017 (as they've increased their value by 33%), it appears we've going to lose our small business rate relief.

From what I understand from the BBC article Newtimber, the threshold looks as though it will increas to £15,000 from £12,000. Also, might you qualify for the higher relief? If not, maybe it might be worth appealing against your valuation.?

Annew wrote: From what I understand from the BBC article Newtimber, the threshold looks as though it will increas to £15,000 from £12,000. Also, might you qualify for the higher relief? If not, maybe it might be worth appealing against your valuation.?

From looking at the information available now, it appears that if you have 2 properties with a rateable value of say £6,000 each you get no rate relief, whereas if you have one property with RV of £12,000 you don't pay anything. If the properties were in Wales, you'd pay nothing, but England does things differently and the additional properties have to be under £2,600 in rateable value.

newtimber wrote: From looking at the information available now, it appears that if you have 2 properties with a rateable value of say £6,000 each you get no rate relief, whereas if you have one property with RV of £12,000 you don't pay anything. If the properties were in Wales, you'd pay nothing, but England does things differently and the additional properties have to be under £2,600 in rateable value.

I have two properties in England under the current rateable value and I get 100% rate relief on one and none on the other.