Rates Flashcards
How much rates relief do you get for vacant retail properties?
3 months
How much rates relief do you get for vacant offices?
3 months
How much rates relief do you get for vacant industrial properties?
6 months
How much rates relief do you get for vacant listed buildings?
Indefinite until reoccupied
When is rates relief applicable?
If the property’s rateable value is LESS than £15,000
When are rates not payable?
If the property’s rateable value is £12,000 OR less
What is the standard business rates multiplier?
51.2p
What is the business rates multiplier for small businesses?
49.9p
What businesses is the small business rates multiplier applied to?
Rateable value of LESS than £51,000
How is the rateable value calculated?
base rate x square metres
How is the rates payable calculated?
rateable value x multiplier (with any relief also potentially applicable)
