Stroud District Council Finance Information can be found on page 12 of the Council Tax Information 2013
Non-Domestic Rates, or business rates, collected by local authorities are the way that those who occupy non-domestic property contribute towards the cost of local services. Under the business rates retention arrangements introduced from 1 April 2013, authorities keep a proportion of the business rates paid locally. This provides a direct financial incentive for authorities to work with local businesses to create a favourable local environment for growth since authorities will benefit from growth in business rates revenues. The money, together with revenue from council tax payers, revenue support grant provided by the Government and certain other sums, is used to pay for the services provided by your local authority and other local authorities in your area.
Each non-domestic property within the Stroud district has a 'rateable value'. In basic terms, this means that a business that operates within 300,000 sq ft would be required to contribute more than a business with only 500 sq ft. Officers from the Valuation Office Agency (VOA), an Agency of the Inland Revenue, decide exactly how much a business is 'worth' and decides the rateable value of that property on our behalf. This information is then provided on their website (www.voa.gov.uk). They are also available at:
Valuation Office Agency
03000 501 501
For ease of use, the rateable value of your commercial property is shown on your Business Rates bill. This can either be paid online on by post. You also have the right to appeal if you feel that the value has been misjudged - contact www.voa.gov.uk or your local valuation office for further guidance of the procedure.
Your final Business Rates bill is worked out thus: by multiplying the rateable value of the property by the multiplier or 'poundage' which the Government sets from 1 April each year, for the whole of England , inline -but not exceeding - the current rate of inflation. (Your rent is multiplied by the government figure, which is approximately 0.45). So, for example, if your rent is £10,000 per annum, this is multiplied by 0.45 - so you would pay us £4,500. Should you then qualify for our small business rate, this can reduce your bill further, by up to 50%. Therefore, your £4,500 bill could now become £2,250 for the year, making the Stroud district a very good place from where to 'set-up shop'!
Of course, in the real world, property values normally change a good deal between each revaluation! Transitional arrangements work by phasing in the effects of these changes by limiting the amount by which a bill may rise following a revaluation.
If you have an EMPTY commercial property you need to be aware of the changes to void rates charges. From 1 April 2011 empty properties with a Rateable Value of more than £2,599 are liable to pay rates after an initial exemption period. The exemption period is a maximum of six months for industrial properties and three months for commercial ones. Void rates is charged at 100% of the full charge.
Properties that have a Rateable Value less than £2,600 are exempt from void rates whilst they remain empty and unoccupied. This is an indefinite exemption.
Some classes of property are still exempt while empty irrespective of their Rateable Value. I.e. Listed Buildings, unoccupied land (with no buildings), empty property in the hands of receivers/administrators and occupied prohibited by law.
Charities are entitled to an 80% relief from rates on any non-domestic property, but we advise that you talk to an advisor from our Business Rates team around this issue. (We must point out that as well as being occupied by a Charity, the property must be in use for charitable purposes to qualify for the 80% relief).
Small businesses are classed as having a maximum rateable value of £18,000. If you believe you qualify for a discount please complete and return the business rate relief form below.
The scheme has been extended until 31 September 2014.
In March 2010 the Central Government announced an increase in the rate of small business rate relief to run from 1 October 2010 to 30 September 2011 for properties with the rateable value of less than 12,000. If a qualifying property has a rateable value of 6,000, then 100% rate relief can be applied, if this is your only business property. For properties with a rateable value between 6,000 and 11,999 relief is applied on a sliding scale.
The increased rate of small business rate relief discount has been extended until 31 September 2014.
If you can prove that your business is a vital service to a rural community, further discounts on your Business Rates may be available. We class 'Rural' as a community with a population of less than 3,000. Relief can only be given to communities within a designated rural settlement, and the designated rural settlements are set by Central Government. This denotes that not all small communities are eligible to apply.
To examine whether you may qualify under this jurisdiction, please contact our Business Rates team on: (01453) 754865, or e-mail firstname.lastname@example.org.
Telephone: 01453 754865