Business Rates
What is Business Rates?
Business rates, also called National Non-Domestic Rates are
payable on all commercial properties. This includes shops,
offices, banks, hotels, factories and power stations.
Bills are sent out each year starting 1st
April and they are usually payable by the occupier of the
property.
The rates payable are collected by Bassetlaw
District council and then paid over to Central
Government. In turn the money is given back to Councils
based on a calculation by the Government.
For 2010/11 Bassetlaw District Council
will pay around £40 million into the central pool and receive
about 25% of this back to help run the Council's
services.
The Business Rates team will be pleased to help
you with all your rates enquiries. Give them a call on
01909 533460 or email them at business.rates@bassetlaw.gov.uk. Our
advice is free of charge, however complex your enquiry.
Rateable Value from April 2010
Rateable values came into effect from 1st April 2010 based on
property rents at 1st April 2008.
Ratepayers can inspect the list of rateable values from the
Valuation Office website. A full
list is also available for inspection at our One Stop Shops at
Worksop and Retford.
To work out your Business Rates bill, we start by multiplying
your rateable value by the 'multiplier' or 'poundage'. From
1st April 2005, the Government introduced the Small Business Rate
Relief Scheme (SBRR). This scheme, which is further explained
in the leaflet shown below, means that the Government has set two
multipliers. For 2010/11 these values are 41.4p for those who
do not qualify for SBRR (or do not claim it) and 40.7p for those
who qualify.
Example - Based on full 2010/11 multiplier (41.4p), if your
rateable value is £20,000 the calculation will give a figure of
£8,280 to pay in Business Rates for the year.
In many cases, this calculation will result in your actual
Business Rates payable. However, for others, there will be
further calculations to go through, because of transitional relief
and other rate reliefs, again these are outlined on our web page
titled 'Calculating Business Rates' and in the leaflet below,
available from our Business Rates Office.
New Rateable Value from 1 April 2010
A revaluation took place from 1 April 2010, to see more
information about these changes look at the valuation office website.
Your Business Rates Explained
The 'Your Business
Rates' leaflet is produced by Bassetlaw District Council,
and is to help you understand how the Business Rates scheme
works. It explains more about Transitional Relief and Small
Business Rates Relief, and how to appeal.
Contact the Business Rates team on 01909 533460 or e-mail
business.rates@bassetlaw.gov.uk
to request a copy
Last Updated - 08/04/2010