Sarah Bradford advises that you should check your business rates bill to ensure that you are not paying too much.
Business rates are charged on non-domestic properties such as offices, shops, pubs, factories and warehouses. Holiday rental homes are also within the scope of business rates, and this can be a good thing.
There are various reasons why a business may be paying too much in business rates. It is vital, therefore, to check your bill and to claim any reliefs to which you are entitled, as not all reliefs are given automatically.
Calculation of business rates
Business rates are based on the property’s rateable value. Business rates from 1 April 2023 onwards are based on the valuation as at 1 April 2021. A business may benefit from reliefs which reduce or extinguish their business rates bill. Some properties are exempt.