New announcement. Learn more

CHARTERED ACCOUNTANTS (ICAEW)

News and advice to help make your property business a success

LANDLORDS FINANCIAL BLOG

All

Landlords Tax Property Tax Landlords Tax Returns Landlords Accounts Property Tax Return Property Accounts Tax Returns Landlords Financial Chartered Accountants Online Accountant Online Bookkeeping Online Tax Returns Your Online Accountant Your Online Bookkeeper Tax Businessadvice Accounting Cashflow Property Accountant Smallbusiness VAT Businesstips Expenses Inheritance Tax Property Taxplanning Capital Gains Tax Cgt Furnished Holiday Lettings Landlords Accountant PAYE Property bookkeeper SDLT Taxreturn Allowable Business Expenses Annual Exempt Amount Business Expenses Business Rate Capital Allowances Capital Gains Capital gains tax property Compliance Deductibleexpenses Disincorporation Dividends Employment Allowance Finance Financialmanagement Gifts HMRC Holiday Lets Tax Ihtexemptions Income Tax Investment Property Tax Making Tax Digital MakingTaxDigital Mileage Allowance Mobilephones NIC Overlaprelief Partnership Partnershipbusinesses Pension Ppr Property Company Tax Property Tax Deductible Expenses Propertyallowance Reimbursedexpenses Rent a Room Relief Small Business TimetoPay VAT invoice 60 day capital gains limit Abolitionclass2 Accrualsbasis Acquisitions Advisoryfuelrates AI AirBnB Alphabet shares Amap Annual Tax on Enveloped Dwellings Appeal Artificial intelligence Assessment Asset disposal Associated Company Associated Company Tax Rules Autumnstatement Bad Debt Bad Debt Tax Relief Baddebts Badgesoftrade Beancounter Benefits in Kind Breakeven Point Budget Business advice Business asset deferment Business coach Business Continuity Business Entertainment Business Rates Business Rates Relief Business tips Businessgrowth Businesstypes Buy or Lease Equipment Buytolet Capital Allowances for Cars Capital Gain Capitalallowances Capitalexpenditure Car Capital Allowances Carry Back Losses Cashbasis Change of Tax Basis ChatGPT Child Benefit CIS Scheme Common Tenant Companies Expenditure Companies House Company Account Deadlines Company Account Filing Company Strike Off Company Tax Efficient Property Companyassociation Companyloanstaxfree Compulsory Strike Off Construction Industry Scheme Contacthmrc Contentmarketing Contributions Corporation Tax Losses Corporation Tax New Regime Corporation Tax Rates CorporationTax Costs Cryptocurrency Customerlistimplications Deductible Business Expenses Deductions Demerger Depreciation Development Directors Directors Loans Directorsloans Disallowable Business Expenses Discovery Dividend allowance Dividend Allowance Reduction Dividend Planning Dividendallowance DLA Domestic Items Tax Relief Dormantcompany Employee Discount Employee management Employeecompensationpayments EmployeeOwnershipTrust Endoflifeplanning Enquiry EnterpriseResourcePlanning Entertainment Entrepreneurmindset Equity Expenses Allowed For Tax Extrabenefit Eyetests FHLs Flipping Furnished Holiday Lets Tax Gift Aid Gift Allowance Growthhacks Help to pay tax bills HICBC HMO Licensing Fees HMRC complaints Holdoverrelief Holiday Lettings Tax How to apply for a Business Loan How to Extract Profit Humour Hybrid Illegaldividends Income Inflationary Gains Influencers Inheritance Tax Nil Rate Band Interest Rates Interestrelief Interestrestriction ISA Joint Tenant Keypersoninsurance Landlord Repairs Landlords Self Assessment Late vat registration LBTT Leadgeneration Leadmagnet Leanbusinessmodel Letting Agent Disbursements Letting Agent Recharres Lettings Lettings Relief Limitedcompany Liquidation Demerger Loaninterest Long Lets Tax Longservice LTT Mainresidencerelief Managed Lets Management accounting Maritalhomedivorce Marriage allowance Marriageallowance Mileage payment Minimumwage Mixedusesdlt Mortgage costs Mortgage Interest Relief National Insurance New property Newcompanycarfuelrates Newnicrules NIC 2023 to 2024 NIC savings Nicdisregard Nicreduction NMW Nmwerrors Non Allowable Business Expenses Non-taxable Nudgeletter Optiontotaxvat Overpayment Relief Paperform Parttime Patternofoccupancy PAYE by Direct Debit Payrolling Penaltypoints Pension Payments Tax Relief Pensioncontributions Pensions Performance-reviews Periodofgrace Periodsofabsence Personal Expenses Personal finance Personalallowance Personalguarantees Postcessationrelief Pretradingexpenses Profit Profit-and-loss ProfitAndLoss Property Allowance Property Development Company Property Incorporation Property Investment Company Property investor accounts Property investor tax tips Property Letting Property Rental Business Property Trading Propertycompany Recharges by Estate Agents Regularpayments Relief Rent your drive Rental Rentaroom Research & Devolopment Residence Relief Residential property gains Residentialsdlt Retail stock control Retainedprofits Revenue Room for rent tax Rti SA Salary SDLT changes Section 455 Tax Section455tax Selective Licences Landlords Self Assessment Self-employednic Selfemployed Selling Online Seperation Servicecharges Settlementslegislation Simplified Expenses Smallbiz Smallbusinessraterelief Software Spring Budget Staffparties Stamp duty SuccessJourney Tax Allowance on Driveways Tax Allowances Tax Break Tax Codes Tax Deadlines Tax Deductions Tax Filing Deadlines Tax Free Childcare Tax free income Tax on Company Vans Tax position Tax Relief Tax tips for landlords Taxbillpayments Taxconsequences Taxincentives Taxposition Taxpositionassets Taxrelief Taxreliefs Taxses Terminationpayments Tips Trade professional Training Transfer Assets Transfer Assets Between Spouses Umbrellacompany Undisclosedincome Unpaid Rent VAT Bad Debt Relief VAT Deadlines VAT Disbursements VAT Penalties VAT registration VAT Reverse Charge Vatpenalties Vatregistered Vatregistrationthreshold Wellbeing Working from home

TAGS

Check your business rates are not too high

October 3, 2023

Check your business rates are not too high

Business rates, rather than council tax, are charged on most non-domestic properties, such as shops, offices, warehouses, pubs, factories, guest houses and holiday lets. Business rates are based on the rateable value of the property. There are various reliefs that may be available to reduce the bill.

The properties are revalued regularly to reflect changes in the property market. The most recent revaluation came into effect this year, taking effect from 1 April 2023 based on the rateable value on 1 April 2021.

During revaluation, all properties are given a new rateable value. The multipliers are also revised.

Transitional relief

Transitional relief caps the amount by which the business rates bill can change each year as a result of a revaluation. The relief is given if your business rates bill changes by more than a certain amount. The effect of the relief is to phase in the changes to the bill as a result of the revaluation.

The amount by which the bill can change from one year to the next as a result of a revaluation depends on the rateable value of the property and whether the bill has increased or decreased as a result of the revaluation. The following table shows the pe0rmitted increases for 2023/204, 2024/25 and 2025/26.

Rateable value 2023/24 2024/25 2025/26

Up to £20,000 (£28,000 in London ) 5% 10% plus inflation 25% plus inflation

0£20,001 (£28,001 in London) to £100,000 15% 25% plus inflation 40% plus inflation

00Over £100,000 30% 40 % plus inflation 55% plus inflation

It is worthwhile checking your business rates bills to e nsure that they hav e not gone up as a result of the revaluation by more than the amount show n in the table above. The bill may rise significantly, for example, if as a result of the revaluation a business no longer benefits from small business rate relief.

If you think the bill is not correct, for example, because the property details are incorrect or because you think the rateable value is too high, you should contact the Valuation Office Agency (VOA) via your business rates account. You should also check you have received any reliefs to which you are entitled and claim them by writing to your Local Authority if they are not reflected in your bill.

Business Rate

Landlords Tax

Landlords Accounts

Landlords Tax Returns

Property Tax

Property Accounts

Property Tax Return