Business rates – also known as national non-domestic rates – are a tax on properties used for business and are usually payable by the occupier. Business rates are a portion of the rental value of the property. The rental value is assessed by the Valuation Office Agency (VOA) and that is multiplied by the Uniform Business Rate (UBR) to find the rates payable.
The tax payer is entitled to appeal the rateable value set by the VOA, and is entitled to various reliefs, such as small business rate relief which can be up to 100% discount against the rates payable. There are also various ways to mitigate rates payable, such as by sub-division of a property into occupied and unoccupied space.
Orme Associates can provide a free initial assessment and advice on business rates.