Business rates
(or National Non-Domestic Rates) are a tax on non-domestic properties in the UK, similar to Council Tax for homes. Paid by occupiers of commercial properties like offices, shops, factories, and warehouses, the funds contribute to local services. They are calculated based on the property’s rateable value. Key details about business rates include:
- Who Pays: The occupier (owner-occupier, tenant, or leaseholder) of a non-domestic property is typically liable for the bill.
- What is Covered: Properties used for purposes other than private, residential, or domestic use, such as warehouses, cafes, pubs, and holiday rentals.
- Calculation: The bill is based on the rateable value—an assessment of the property's annual rental value set by the Valuation Office Agency (VOA)—multiplied by a uniform business rate (multiplier) set by the central government.
- Reliefs: Small businesses or specific properties may qualify for business rate relief to reduce their tax liability.
- Empty Properties: Even if a business property is vacant, rates may still be payable by the tenant or owner.
Business rates are considered an allowable expense for tax purposes.
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