Business Rates
To determine the Rateable Value of premises, please ask one of our Property Managers or refer to www.saa.gov.uk, insert the post-code of the appropriate Business Centre and this will give you the Rateable Value for individual offices within the Centre.
- The Business Rates poundage level as of April 2010 is 40.7p.
- To calculate rates payable for an office, the rateable value should be multiplied by the poundage level – i.e. rateable value £10,000 x 0.407 = £4070 per annum payable for Business Rates
In addition, tenants may be eligible for a reduction in rates via the Small Business Bonus Scheme.
The Small Business Bonus Scheme
From 1 April 2010, the Scheme will provide relief to businesses with properties in Scotland with a combined rateable of £18,000 or less. In addition, the Scheme has been expanded and, where the cumulative rateable value of a business property falls between £18,000 and £25,000, the Scheme will offer 25% relief to individual properties with a rateable value of up to £18,000.
The Scheme provides the following reliefs from 1 April 2010:
- Combined rateable value (RV) of all business properties in Scotland 2010-11
- Up to £10,000 100%
- £10,001 to £12,000 50%
- £12,001 to £18,000 25%
- Upper limit for cumulative (RV)* £25,000 25%
*This will allow a business with 2 or more properties with a cumulative rateable value of under £25,000 to qualify for relief at 25% on individual properties with a RV less than £18,000. Tenants are responsible for making their own applications for rates relief via the Small Business Bonus Scheme which is available via any Local Authority Website.
