Business rates, also known as National Non-Domestic Rates (NNDR), are the contributions made by businesses towards the costs of services provided by the Council. Business Rates collected by the Council are paid into a central pool maintained by the Government.
Rateable Value
The Valuation Office has re-valuated all properties in England. The new lists came into force on the 1st April 2005. The next re-valuation is due to begin in 2008 for the financial year starting 1st April 2010.
New rateable values represent a professional assessment of the annual rent of a property, as if it was available to let on the open market as at 1st April 2003. The VOA gathers as much evidence as possible about actual rents paid for properties in order to determine appropriate rental values.
The rateable value of any property in Hounslow can be inspected at the Civic Centre and on the Valuation Office Agency website www.voa.gov.uk.
The rateable value of your property is not the amount you pay in business rates, but it is the basis for the calculation of your business rates bill. The rates due from any property are calculated by multiplying your rateable value by a factor set by central government each year, this is known as the multiplier. The amount you pay would normally increase in line with the movement in the annual Retail Price Index.
If you believe that your rateable value is too high you must contact the Valuation Office. Details regarding how to appeal are on there website at www.voa.gov.uk/business_rates/appeals.htm and further guidance is available from the Local Government Finance website at www.local.odpm.gov.uk/finance/busrats/non/01.htm
Rate Poundage
From 1st April 2005, there are two multipliers. For 2008/09, the small business multiplier, applicable to those businesses eligible for Small Business Rate Relief, is set at 45.8p. The standard multiplier, which includes the supplement to pay for Small Business Rate Relief, is set at 46.2p.
Contact
Business Rates Section
London Borough of Hounslow
PO Box 185
Hounslow
TW3 4WD
Telephone: 020 8583 5708
Facsimile: 020 8583 4823
E-mail: BusinessRates@hounslow.gov.uk