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 2005. The most recent re-valuation began in 2008 for the financial year starting 1 April 2010.
Current 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 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 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. Further guidance is available from the Local Government Finance website.
Rate poundage
From 1 April 2005, there are two multipliers. For 2009/10, the small business multiplier, applicable to those businesses eligible for Small Business Rate Relief, is set at 48.1p. The standard multiplier, which includes the supplement to pay for Small Business Rate Relief, is set at 48.5p.
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
Contact
E-mail: BusinessRates@hounslow.gov.uk
Telephone: 020 8583 5708
Business Rates Section.
London Borough of Hounslow
PO Box 185
Hounslow
TW3 4WD