Business Rates Bills for 2017/18

Annual bills for the next financial year have been sent and there are some significant changes from last year. The key points are:

Rateable Value & Appeals

Because 2017 is a revaluation year some businesses may see a large increase or reduction in their Rateable Value from their current valuation. In other cases the values will be broadly static. The Rateable Values are assessed by the Valuation Office Agency, an executive function of HRMC. The Valuation Office Agency also manages all appeals against the Rateable Values and any questions regarding should be sent to them, their contact details are as follows:

Multiplier

Each year the Government sets the Business Rates Multipliers and informs Local Authorities of their value, any bills that are issued must, by law show the multiplier. There are two multipliers in use for 2017/18, which are:

Small Business Rates Multiplier – For occupied and qualifying properties the multiplier is 46.6p

Standard Multiplier – For properties not qualifying for the Small Business Rates multiplier because the property’s Rateable value is greater than £51,000 the multiplier used is 47.9p

Empty or non-qualifying properties whose Rateable value is less than £51,000

Small Business Rates Relief

The Government has extended the scheme so that more properties will receive relief, but there are qualification criteria, as set down by Parliament. The rules are as follows

  • The property must be occupied at the time of claiming relief
  • In most cases this must be the sole property occupied within the UK, the exception to this is where a second property is also occupied with a Rateable Value below £2,900
  • The property must have a rateable value of less than £51,000
  • The relief is payable in bands (Less than £12,000 Rateable Value = 100% Relief, £12,000 - £15,000 is tapered and Rateable Values from £15,000 to £51,000 will receive the Small Business Multiplier)

For those businesses that already get this relief there is no need to re-apply as the New Year amount will be automatically calculated. However some properties may now be eligible for relief and if you want us to review your case please contact us at businessrates@southworcestershirerevenues.gov.uk or telephone 03004 560 560

Payment Options

Did you know the following payment methods are really quick, reliable and easy to set up?

  • Paying by Direct Debit
  • Internet Payments through our website
  • Telephone payments

Details are available on this website or contact us on 03004 560 560.