Business rates are charged on most non-domestic properties, like:
- holiday rental homes or guest houses
If your property has a rateable value below £18,000 (£25,500 in Greater London) you’re considered a small business.
Even if you don’t qualify for small business rate relief, your business rates will be calculated using the small business multiplier instead of the standard one. This is the case even if your business uses more than property.
You can get small business rate relief if:
- you business only uses one property
- your property’s rateable value is less than £12,000
Contact your local council to apply for small business rate relief.
The Valuation Office Agency recently revalued all 1.96 million non-domestic properties in England and Wales. These new rateable values are based on the rental value of properties on 1 April 2015, and will be used to calculate business rate bills from 1 April 2017.
You can find out how much your rates will be using this link