If you’re a business owner, you know that business rates can be a big expense. But there are ways to reduce your rates and save money. In this blog article, we’ll share the top 5 business rates advice you need to know.
1. How to Calculate Your Business Rates
1. How to Calculate Your Business Rates If you’re a business owner, you’ll need to pay business rates. But how are business rates calculated? The amount you’ll need to pay will depend on the value of your property and the location of your business. Business rates are calculated using a rateable value, which is set by the government. The rateable value is based on the rental value of your property. This is the amount that a hypothetical tenant would pay to rent your property on the open market. To calculate your business rates, you’ll need to multiply the rateable value of your property by the business rates multiplier. The business rates multiplier is set by the government and changes every year. You can find out the rateable value of your property and the business rates multiplier for your area on your local authority’s website. 2. How to Pay Your Business Rates You’ll need to pay your business rates to your local authority. You can usually do this online, by phone, or by post. If you’re struggling to pay your business rates, you should contact your local authority as soon as possible. They may be able to offer you a payment plan or help you apply for discounts or reliefs. 3. When to Pay Your Business Rates Business rates are usually paid in 10 instalments. The first instalment is due on the 1st of April and the last instalment is due on the 1st of January. If you’re a new business, you’ll need to pay your business rates from the date that your property is first occupied. 4. What to Do if You Think Your Business Rates are Too High If you think your business rates are too high, you can appeal to the Valuation Office Agency. The Valuation Office Agency is responsible for setting the rateable values of properties. To appeal, you’ll need to fill in a form and submit it to the Valuation Office Agency. They’ll then review your case and may reduce your business rates if they agree that your property is valued too high. 5. Help and Advice for Businesses Struggling to Pay Their Business Rates If you’re struggling to pay your business rates, there’s help available. You can contact your local authority to discuss your options. They may be able to offer you a payment plan or help you apply for discounts or reliefs. There are also a number of charities and organisations that can offer advice and support to businesses struggling to pay their business rates. These include the Federation of Small Businesses, the British Chambers of Commerce, and the National Federation of Self-Employed and Small Businesses.
2. How to Appeal Your Business Rates
1. Check your business rates bill The first step is to check your business rates bill to make sure that you are being charged the correct amount. If you think that you are being charged too much, you can contact your local authority to query the bill. 2. Make an appeal If you are still not happy with the amount of business rates you are being charged, you can make an appeal to your local Valuation Office. This is the government body responsible for setting business rates. 3. Get professional help If you are struggling to deal with your business rates, you may want to get professional help. There are a number of companies that offer business rates advice and can help you to appeal your bill. 4. Pay your bill If you do not agree with the amount of business rates you are being charged, you can still pay your bill. This will ensure that you do not get into debt with your local authority. 5. Contact your local authority If you are having difficulty paying your business rates, you should contact your local authority. They may be able to offer you some help and advice.
3. How to Save Money on Your Business Rates
1. Check your business rates bill The first step is to check your business rates bill to make sure that you are being charged the correct amount. If you think you are being charged too much, you can contact your local authority and ask for a review. 2. Shop around for the best deal When it comes to business rates, it pays to shop around. There are a number of different providers of business rates services, so itรขโฌโขs important to compare them to get the best deal. 3. Negotiate with your landlord If you are a tenant, you may be able to negotiate with your landlord to get a reduction in your business rates. This is particularly common in cases where the property is in a poor state of repair. 4. Claim business rates relief There are a number of different types of business rates relief available, so itรขโฌโขs worth checking to see if you are eligible for any. For example, small businesses may be eligible for the small business rates relief. 5. Appeal your business rates If you think your business rates are too high, you can appeal to the Valuation Office Agency. They will reassess your property and may reduce your business rates bill.
4. What to Do if You Can’t Pay Your Business Rates
If you’re a business owner, you’ll know that business rates can be one of the biggest overheads you have to pay. But what do you do if you can’t pay them? Here’s our top 5 pieces of advice: 1. Talk to your local authority If you’re struggling to pay your business rates, the first thing you should do is get in touch with your local authority. They may be able to offer you some help or flexibility on your payments. 2. Look into business rate relief There are a number of different types of business rate relief available, so it’s worth doing some research to see if you could be eligible for any of them. 3. Consider a payment plan If you’re still struggling to pay your business rates, you may be able to agree a payment plan with your local authority. This will help you to spread the cost of your payments over a longer period of time. 4. Get professional help If you’re still struggling to pay your business rates, it’s worth getting some professional help. There are a number of organisations that can offer advice and support, so it’s worth getting in touch with them to see if they can help you. 5. Keep up to date with your payments If you’re struggling to pay your business rates, it’s important to keep up to date with your payments. This will help you to avoid getting into further debt and will also help you to keep your business running smoothly.
5. How to Get Help with Your Business Rates
1. Check if youรขโฌโขre eligible for any reliefs or discounts รขโฌโ there are a number of reliefs and discounts available, so itรขโฌโขs worth checking to see if youรขโฌโขre eligible for any. 2. Know when your rates are due รขโฌโ make sure you know when your rates are due so that you can budget accordingly and avoid any late payment penalties. 3. Understand how your rates are calculated รขโฌโ itรขโฌโขs important to understand how your rates are calculated so that you can check that youรขโฌโขre being charged the correct amount. 4. Check if you can appeal your rateable value รขโฌโ if you think your rateable value is too high, you may be able to appeal it. 5. Get help and advice รขโฌโ if youรขโฌโขre struggling to understand your business rates or donรขโฌโขt know where to start, there are a number of organisations that can offer help and advice.
6. The Business Rates Review Process
1. Check your business rates bill The first step in the business rates review process is to check your bill. You should check that the amount you are being charged is correct and that you are not being overcharged. If you think you are being overcharged, you should contact your local authority. 2. Make sure you are registered to vote If you want to have your say in the business rates review process, you need to make sure you are registered to vote. You can do this by contacting your local authority. 3. Make a submission to the review Once you have checked your bill and registered to vote, you can make a submission to the review. This can be done online or by post. You will need to provide your name, address and contact details. 4. Attend the meeting Once the submissions have been made, the review panel will hold a meeting. This is your chance to have your say on the business rates review. You will need to provide your name and contact details when you attend the meeting. 5. Get help from an expert If you want help with the business rates review process, you can get help from an expert. There are a number of organisations that can help you, including the Federation of Small Businesses and the British Property Federation.
7. How to Lower Your Business Rates
1. Check your business rates band. You could be paying too much business rates if your band is incorrect. Check your band and compare it to similar properties to see if you are due a refund. 2. Check your business rates relief. You may be eligible for business rates relief if your property is in a certain area or if your business meets certain criteria. Check with your local authority to see if you qualify. 3. Check your business rates valuation. Your business rates bill is based on the valuation of your property. Check your valuation and appeal it if you think it is too high. 4. Check your business rates instalments. You may be able to lower your business rates bill by paying it in instalments. Check with your local authority to see if this is an option. 5. Check your business rates appeal. If you think your business rates are too high, you can appeal the decision. Check with your local authority to see if you qualify.
8. How to Get Out of Paying Business Rates
1. Check if youรขโฌโขre eligible for any reliefs รขโฌโ There are a number of reliefs available which could reduce the amount of business rates you have to pay. Check if youรขโฌโขre eligible for any of them. 2. Appeal if you think your business rates are too high รขโฌโ If you think your business rates are too high, you can appeal to the Valuation Office Agency. 3. Get help with paying your business rates รขโฌโ If youรขโฌโขre struggling to pay your business rates, there are a number of options available to help you. 4. Check if you can get a refund รขโฌโ If you think youรขโฌโขve been overcharged, you can check to see if youรขโฌโขre due a refund. 5. Get help with business rates if youรขโฌโขre a charity รขโฌโ If your organisation is a charity, you may be able to get help with business rates.
9. How to Avoid Business Rates
1. Business rates are a tax on commercial properties in the UK and are set by the government. 2. They are based on the value of your property and can be expensive, so it’s important to know how to avoid them. 3. There are a few ways to reduce your business rates, including: – Appealing your valuation – Claiming reliefs – Moving to a smaller property 4. You can also avoid business rates by using a property that is exempt from them, such as a charity or a community centre. 5. Finally, remember that you can negotiate with your local authority on your business rates. They may be willing to give you a discount if you agree to certain conditions.
So there you have it, the top 5 business rates advice you need to know. We hope this article has been helpful in showing you how to save money on your rates. Thank you for reading and we wish you the best of luck in your business endeavors.