Business Rates Archives

Nov 29 2022

Business Rates

By admin Business Rates, HMRC, Potts & Co Accountancy & Business Advice News

Properties subject to business rates will be revalued in 2023. Where the value has reduced compared to the last valuation point in 2017 that will translate to a rates reduction from April 2023. Where the rateable value has risen the increase in rates bill will be capped at 5% for…

Nov 23 2021

Business Rates Reliefs

By admin Budget Update, Business Rates, Covid-19, HMRC, Potts & Co Accountancy & Business Advice News

High street shops, hospitality and leisure businesses were some of the hardest hit during the Covid-19 pandemic and many have not fully recovered. These businesses were granted 100% business rates relief during 2020- 21 which continued until 30.6.21 for properties in England. Different rates reliefs apply in Scotland and Wales.…

Aug 04 2021

Business Rates on Empty Properties

By admin Business Rates, HMRC, Losses, Potts & Co Accountancy & Business Advice News, Property

As a landlord, you may have lost income during the pandemic as tenants have left or gone into liquidation. Council tax (for residential properties) and business rates (for commercial premises) remain payable when a building is empty but there may be reliefs available. Some local authorities allow landlords to claim…

Mar 24 2020

Relief from Business Rates

By admin Business Rates, HMRC, Potts & Co Accountancy & Business Advice News

Some businesses struggle to pay business rates because the tax is payable whether or not they have made a profit. Small retail businesses that occupy properties with a rateable value of less than £51,000 can apply to their local authority to get one third off their business rates bill. From…

Nov 11 2018

Business Rates

By admin Budget Update, Business Rates, Potts & Co Accountancy & Business Advice News

High street shops and restaurants feel the burden of business rates acutely, as the tax does not reduce if their profits fall. The Chancellor announced some help for businesses who operate from retail premises with a rateable value of up to £51,000. Their business rates bills will be cut by…

Dec 03 2017

Business Rates & Staircases

By admin Budget Update, Potts & Co Accountancy & Business Advice News

The 'staircase tax' is an increase in business rates suffered by businesses who occupy two or more sections of a shared building. Each section must be treated as a separate rateable unit if it is not possible to move between the sections without entering a common area (such as a…

Mar 26 2017

Business rates revision

By admin Budget Update, Potts & Co Accountancy & Business Advice News, Property

The business rates payable for a property are a combination of its rateable value and the applicable multiplier for the area, less any special reliefs. The multipliers that apply in England for 2017-18 have been reduced from the rates in place for 2016-17. This is to offset the effect of…

Apr 14 2016

Property

By admin Potts & Co Accountancy & Business Advice News, Property

SDLT – Commercial Stamp duty land tax (SDLT) was reformed for residential property purchases from 4 December 2014, this month it was the turn of SDLT on commercial properties to be shaken up. For property deals completed be-fore 17 March 2016, SDLT is charged at a single rate on the…

Business Rates

Business Rates

Business Rates Reliefs

Business Rates on Empty Properties

Relief from Business Rates

Business Rates

Business Rates & Staircases

Business rates revision

Property

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