Is your property liable for business rates?
Business Rates legislation states that the person entitled to possession of a property is liable to pay business rates charges. The person entitled to possession will usually be the leaseholder or the owner of the property.
How do you stop business rates?
If you’re in retail (e.g. a shop, restaurant, café or bar) then you can reduce your business rates by a third with the retail discount. Businesses in Enterprise Zones can also get reduced or even zero rates, and some rural businesses (such as the only shop in a village) can also be totally exempt from business rates.
How do you avoid paying rates on an empty commercial property?
What Does This Mean For Property Owners?
- Short Term Tenants. One of the most common techniques of avoiding to pay business rates on empty properties is finding tenants that are willing to occupy the property for at least 6 weeks. …
- The Property Owner Occupies. …
- Letting To Charity. …
- Demolishing The Property.
How do I remove a property from the rating list?
If your property is in poor condition and cannot be economically repaired, the Valuation Officer Agency (VOA) may decide that it should be taken out of the rating list. Call 03000 501 501 or visit the VOA website.
Who is liable for rates?
The person or company named on the lease agreement, tenancy agreement or license agreement will be responsible for paying the business rates. They will be deemed responsible even if they are not trading from or occupying the property.
What is small business rate relief?
This relief is aimed at helping small businesses where they are not entitled to another mandatory relief. Ratepayers who occupy a property with a rateable value which is not more than £50,999 will have their bill calculated using the lower small business rate multiplier.
What happens if I don’t pay business rates?
If you do not pay the business rates demanded on a reminder notice you may be summonsed to appear before the Magistrates Court. This will incur costs of £150.00 to your account. The summons will include a court hearing date.
Do you have to pay business rates if you run a business from home?
If you are running your business from home, you should bear in mind that business rates are payable on most commercial premises. So, will you be liable to business rates if you work from home? If you work from home, you may become liable for business rates for the part of your home you use for work purposes.
How often can you claim empty rates relief?
Rate relief on empty and partly-occupied properties
If your property is empty, you can apply for business rate relief. The relief will be for a maximum of three months, or for an industrial property, six months.
Do I have to pay rates if my house is empty?
The owner is responsible for paying rates on an empty property. Four per cent early payment discount is applied to empty property rates.
What are void rates?
The void rate is the percentage of a property or portfolio that is vacant or unoccupied. High void rates could indicate poor demand or letting performance but could also reflect the completion of a new development or the loss of a big tenant.