Introducing
Your new presentation assistant.
Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.
Trending searches
Box Park Wembley
5
Business Rates
National Non Domestic
Rates
What is it?
What are Business Rates?
Business Rates (National Non Domestic Rates)
Tax
Business rates are charged on most non-domestic properties, like:
- shops
- offices
- pubs
- warehouses
- factories
- holiday rental homes or guest houses
- Kiosks
You’ll probably have to pay business rates if you use a building or part of a building for non-domestic purposes.
Business rates are a local tax that is paid by the occupiers of non-domestic property in England and Wales. Business rates help to pay for local services like the Police, Fire and Rescue Services.
Rateable Value
The rateable value is an estimation of a property's potential rental cost.
Rateable Value
Your premises will be given a rateable value by the Valuation Office Agency, which Brent Council will use to calculate how much you should pay.
Please note that Brent Council facilitate the collection of Business Rates, but do not have any involvement in awarding a rateable value.
The Valuation Office Agency can be reached by phone or online:
www.voa.gov.uk
03000 501 501
The rateable value is then multiplied by a percentage in the £ set by central government.
The multipliers for 2020/21 are 49.9p and 51.2p
Most Box Park units have a rateable value of £24,500. Meaning they would be paying £12,225 per year.
Payments
£12,225 would equate to:
April: £1227
May: £1222
June: £1222
July: £1222
August: £1222
September: £1222
October: £1222
November: £1222
December: £1222
January: £1222
Instalments
Payments default to divide the amount payable by 10 months April to January.
This can be extended to 12 months if preferred.
Reducing the amount you pay.
The amount you pay can be reduced by qualifying for reliefs.
The 3 main reliefs are:
Types of Relief
Small Business Rate Relief
Small Business Rate Relief
You can get small business rate relief if:
- Your property’s rateable value is less than £15,000
- Your business only uses one property (you may still be able to get relief if you use more)
Contact Brent Council to receive an application form.
What you will get:
- You will not pay business rates on a property with a rateable value of £12,000 or less.
For properties with a rateable value of £12,001 to £15,000, the rate of relief will go down gradually from 100% to 0%.
Which means for every £30 above £12,000 you will lose 1% of relief.
Application Form
Retail Rate Relief
Retail Rate Relief
You could qualify for retail rate relief if your business:
- Is a shop, restaurant, café, bar or pub;
- and has a rateable value of less than £51,000
Contact Brent Council to receive an application form.
What you’ll get:
A third off your business rates bill -
You can get the retail discount on top of any other business rates relief you’re eligible for.
Subject to State Aid Rules
Hot off the press...
As part of emergency COVID19 measures, any business that qualifies for retail rate relief currently, will have 100% relief on business rates for 2020/21.
2020/21
Discretionary Rate Relief
Discretionary Rate Relief
Brent Council has the discretion under Section 44A, Section 47 and Section 49 of the Local Government Finance Act 1988 as amended by the Localism Act 2011 to award discretionary rate relief to ratepayers.
The amount awarded can range from 1%-100%
Applications are considered on a case by case basis using a written application form.
Application Form
Questions?
Thank you for listening.
Questions?
Thomas Clark
Revenues Manager
thomas.clark@brent.gov.uk