Choregus explains business rates
November 19th, 2007 | by Amy Edwards
Choregus gives the lowdown on business rates and how they will affect your business…
All commercial properties have to pay business rates which is a form of council tax on the premises that they occupy. This needs to be considered in a business’ cost calculations.
Business rates are usually set at a rate of around 43 per cent of the rental value. The calculation is based on the rateable value and this and is an assigned value to cover freehold and leased properties.
This percentage is set annually by the government and is subject to periodic review. Choregus would say that business rates should never exceed the 43 per cent of the actual rent. If it does we recommend that an appeal to the council is lodged.
Serviced office providers such as Regus and MWB will usually include business rates in costs they charge.
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