Each non-domestic property will have a rateable value which will be set by the valuation officers of the (VOA) Valuation Office Agency that is part of HM Revenue and Customs.
The Rateable value of your property will be shown on the front of your bill, and should represent the yearly rent the property could be let for on the open market.
However, you can get this reduced if your property is eligible for business rates relief. You can do this by either contacting the council and applying for one of the following –
Business rates relief schemes
Small business rate relief
Rural rate relief
Charitable rate relief
Enterprise zone relief
The government have also announced there will be extra relief for businesses in England with the biggest rate increases as a result of the revaluations done in 2017.
As stated above you can do this yourself if you are certain what rate relief to apply for, or you could use the services of a specialist business rates relief company such as Overrated who will check to see if the council have overrated your premises and help you reduce your business rates liability.
It is estimated that councils in England will collect around £25bn in business rates in 2019-20 financial year which will be up by over £200 million on the previous year.
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