Changes to your Business Rates bill in 2005
This information gives you an introduction to the changes that
took place to business rates in April 2005.
Revaluation
Every five years the Valuation Office Agency (VOA) gives all
non-domestic (business) properties new rateable values so local
authorities can work out the business rates.
The new rateable values will broadly reflect the yearly
open-market rental value of each property.
The purpose of the revaluation is not to change the amount of
money collected in rates nationally, but to make sure that
individual rateable values reflect the changes that have taken
place in the property market since the last revaluation.
You can check your own rateable value on the VOA's website
at http://www.voa.gov.uk/, and get further advice on all
aspects of your business rates at Business Link
Transitional relief
Transitional relief from business rates is now available since
the revaluation in 2005.
Transitional relief works by phasing-in increases and reductions
in rate bills following a revaluation.
Rate relief for community amateur sports clubs
Registered community amateur sports clubs (CASCs) can receive
80% rate relief from 1 April 2004.
To qualify as a CASC, a sports club must:
- be open to the whole community;
- be run as an amateur club;
- be a non-profit-making organisation;
- aim to provide facilities for, and encourage people to take
part in, eligible sport.
If you are a sports club which has not yet registered as a CASC
and are interested in the registration process, please see http://www.hmrc.gov.uk/casc/index.htm
or call HM Revenue & Customs' Sports Clubs Unit on
0131 777 4147.
Rate relief for small businesses
The Government has introduced a new rate relief scheme to help
small businesses in April 2005. Rate relief for small
businesses will give properties which have rateable values of under
£15,000 a percentage of relief from their business rates.
Properties with rateable values of £15,000 or higher will receive
no relief.
This relief is only available to businesses that declare that
they only use one property, in England. To qualify for the relief,
each business must apply to their local authority.
For more information on any of these issues, please contact:
mailto:contactus@communities.gsi.gov.uk