01743 358 625   info@shrewsburybid.co.uk

Marketing, Profile & Promotion

Business Rates Lobbying

Business rate values across the UK have been revalued, with the new rates coming into effect on 1st April 2017. Revaluation happens every five years, although it was delayed for two years in 2015 and is only now coming into effect. The valuations are undertaken by the Valuation Office Agency (VOA) and aim to rebalance the amount collected in business rates across sectors and locations, the Government makes no additional money from revaluation. Local councils are not involved with revaluation and have no control over the amount set for business rates.

It is extremely important that you check the changes to your rateable value. If you think that your valuation is factually incorrect, you can appeal it with the VOA.

Shrewsbury BID levy

There will be no change to BID member levy payments until the end of the BID term in 2019.

Your Shrewsbury BID levy is calculated as a percentage of your rateable value (1.5%). Shrewsbury BID has decided to keep the Rateable Values used to calculate BID levy based on the 2011 valuations.

Changes in Small Business Rate Relief

From April, the rate relief for small businesses will permanently double. If you have a business with a rateable value of up to £12,000 you will be eligible for 100% relief. Those with rateable values between £12,000 and £15,000 will received tapered relief.

Find out more about the rates relief available to businesses.

Help on appeals

  • The VOA say the most appropriate way to discuss your rates is an evidence-based approach, showing if there is a mismatch between rent paid and the calculated rateable value.
  • When it comes to inquiries, individuals are treated the same way as solicitors. If you are considering hiring a solicitor, they can bring additional experience and knowledge of the market.
  • There are several local firms who specialise in assisting with business rates and can help you gain a better understanding of factors that may have influenced current assessments and/or may be relevant in an appeal process.

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