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Posted by Graham Bullock
on October 19, 2009, 11:03 am
Message modified by board administrator October 20, 2009, 1:37 pm
I have just received a letter from the Valuation Office telling me the Rateable Value of my business property is to increase by 46% as part of the five yearly re-valuation. It also explains about transitional relief but it is still going to mean around a 9% increase in payable business rates each year for the next 5 years where it will all start again with another increase.
Looking on the rating list it appears that a lot of hotels and B&B's have come down or remained static, talking to a couple of B&B owners it appears they had a form to fill in asking how their trade was doing and what their turnover was etc. Local pubs have also had their rates reduced. I thought you paid Income tax on profits and the Rates were based on property rental values but it appears some types of business are getting an helping hand.
Have any of you received your letters yet and did you think the increase fair?
Graham
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