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 us 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 1 April 2010. The next re-valuation is due to beginin 2013 for the financial year starting 1 April 2015.
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 1 April 2008. 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 on the Valuation Office Agency website.
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
Rate poundage
From 1 April 2010, there are two multipliers. For 2010/11, the small business multiplier, applicable to those businesses eligible for Small Business Rate Relief, is set at 40.7p. The standard multiplier, which includes the supplement to pay for Small Business Rate Relief, is set at 41.4p for 2010/11, compared to only one multiplier set at 45.6p for 2004/05.
Transitional Relief
Some ratepayers may have witnessed some dramatic changes in their rates bill, if this has occurred, it will probably be affected by transitional arrangements. Transitional arrangements soften the impact of revaluation by phasing in the changes to the rates bill over a period of time. Different transitional arrangements will apply, depending on whether your bill has increased or decreased and whether your business is classed as small or large. The transition scheme has been introduced with effect from 01 April 2010 for the next five years.
Deferment scheme - Defer part of your business rates increase
The government announced on 31 March 2009 that it will allow ratepayers to defer up to 60 per cent of the increase in their 2009/2010 rate bills over the next two financial years, ie 2010/11 and 2011/12.
Key facts about the announcement:
Businesses must keep paying their legally established liability as set out on their current bills
Once the regulations are in place - we will write to the ratepayers, offering them the option of deferring part of the increase
There is no need for businesses to contact anyone at this stage
For 2010/11 and 2011/12 bills we will show the deferred amounts
Businesses do not have to defer payment if they wish to pay the full amount in the 2009/10 year
Businesses who have already paid in full will not be able to defer their increase
The Business Rate Supplement Act 2009 enables levying authorities - county councils, unitary district councils and, in London, the Greater London Authority to levy a supplement on the business rate to support additional projects aimed at economic development of the area. Business rate supplements (BRS) are not applicable to properties with a rateable value of £55,000 or below, and authorities have the discretion to increase that threshold. The total maximum BRS which may be levied by a levying authority is 2p per pound of rateable value. If you’re liable for BRS this will be shown on the front of your bill.
Contact
E-mail: BusinessRates@hounslow.gov.uk
Telephone: 020 8583 5708
Business Rates Section.
London Borough of Hounslow
PO Box 185
Hounslow
TW3 4WD