Business Rates: Who Qualifies and What You Get
Learn how business rates work for non-domestic properties and how they fund local services and small business relief.
Business rates are a tax paid by those who occupy non-domestic properties, used to fund various local services.
Who it's for
This scheme applies to anyone who occupies a non-domestic property. If you occupy a property for business purposes rather than for living in, you may be required to pay these rates.
What you get
The money collected through this system is used to provide funding for various local services in your area. In addition to contributing to these services, some occupiers may be eligible for small business rate relief, which is a way to reduce the amount of tax you are required to pay.
What it costs you
You are required to make an annual payment. The specific amount you are required to pay is based on the "rateable value" of your property. The rateable value is an official assessment used to calculate the cost of your specific tax obligation.
The catch to know
If you believe the assigned rateable value for your property is incorrect, you may want to challenge it. However, you should be aware that appealing your rateable value can be a long, complex process that requires significant time and effort to navigate.
How to apply
- Confirm that you are the occupier of a non-domestic property.
- Determine the current rateable value assigned to your property.
- Check if your business qualifies for any available small business rate relief.
- Review the official guidelines via the portal: https://www.gov.uk/introduction-to-business-rates