Business Rates
Latest News for Business Rates
Changes to Empty Properties from 1 April 2008
You should have received a letter from Bassetlaw Business Rates Unit
regarding changes to empty property business rates. Empty
properties will be charged 100% after being empty for 3
months. Warehouses and Industrial Units will be charged 100%
after 6 months. Any empty properties held by charities and
community amateur sports clubs or any properties with a rateable
value of less than £2200 are exempt.
Confirmation has not yet been received on how to treat Listed
Buildings with regard to the new Empty Property rate changes.
Once we have the details they will be posted on this
page.
Should you have any questions on this matter, the Busines Rates
team will be more than happy to discuss them with you.
Telephone 01909 533460 or e-mail business.rates@bassetlaw.gov.uk
For more information the Valuation Office and the
Department of Communties and Local
Government web sites may be of more help.
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 2007/08 Bassetlaw District Council
will pay around £40 million into the central pool annually and
receives about £9.25 million 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.
New Rateable Value from April 2005
New rateable values came into effect from 1st April 2005 based
on property rents at 1st April 2003.
Ratepayers can inspect the list of rateable values from the
Valuation Office website http://www.voa.gov.uk/. A full
list is also available for inspection at our One Stop Shops at
Worksop, Retford and the Harworth Information Office.
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 2007/08 these values are 44.4p for those who
do not qualify for SBRR (or do not claim it) and 44.1p for those
who qualify.
Example - Based on full 2007/08 multiplier (44.4p), if your
rateable value is £20,000 the calculation will give a figure of
£8,880 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 tansitional 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.
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