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Business Surgery: Rateable Value & business finances
May 26, 2021 - 2:00 pm - 3:00 pm
Our next business surgery event will be about how your premises’ rateable value can affect your business’s finances.
Our main speaker will be Maureen Smith who headed up Lambeth’s Business Rates department for many years, who has come out of retirement to share her expertise with the businesses she used to serve!
Also on hand will be another business owner who successfully appealed her rateable value and was able to reduce her business rates bills and access the first tranche of government funding.
Wednesday 26 May
Virtual meeting – email us on firstname.lastname@example.org for the login details.
The pandemic has made many more businesses realise how important the rateable value of their premises are, as this has been instrumental in how much grant relief some businesses have got.
Having a rateable value a few pounds either side of a certain limit has meant a business receiving up to £10,000 more than another, or receiving nothing at all.
Your business rates are calculated using the rateable value of your premises, and the rateable value is calculated based on your rent. But did you know you could appeal the rateable value of your property? Or that your rateable value should not be more than your rent?
The 2021 Revaluation was delayed due to Covid-19, and will become effective on 1st April 2023. However it is imperative that your rateable value is correct by that date or that you have submitted an appeal by the middle of 2021 as the 2023 Revaluation will be based on the rental values submitted by owners as at 1st April 2021.
If you want to learn more, come along to our free business surgery!