BUSINESS RATES - UPDATE

BUSINESS RATE UPDATE
GARRATT BUSINESS PARK
24 FEBRUARY 2010

Kevin Legg – Head of Revenue Services
klegg@wandsworth.gov.uk
020 8871 6895

• Introduction

• Re valuation 2010

• Appeals

• Multiplier

• Transitional Rate Relief

• Small Business Rate Relief

• Empty Rates

• Crossrail

• Hardship

• Wandsworth's response

• Any questions

KEY POINTS FROM 1 APRIL 2010:

RE-VALUATION 2010

New rateable values listed on the on VOA website - see www.2010.voa.gov.uk/rli

APPEALS

If you feel you have grounds for appeal, here are the following contacts you might want to try:

Valuation Office Agency www.voa.gov.uk

Royal Institution of Chartered Surveyors RICS www.rics.org

Institute of Revenues Rating and Valuation IRRV www.irrv.org.uk

MULTIPLIER

Because of the re-valuation the business rates multiplier has been reduced to 41.4p (general) and 40.7p ( for small businesses)

TRANSITIONAL RATE RELIEF

Rateable Value below £25,500 maximum increase 5%

Rateable Value above £25,500 maximum increase 12.5%

Rateable Value below £25,500 maximum decrease 20%

Rateable Value above £25,500 maximum decrease 4.6%

SMALL BUSINESS RATE RELIEF

Rateable Value below £6,000 – 50% relief

Rateable Value between £6,000 to £12,000 – relief on a sliding scale of 1% per £120 RV

Rateable Value between £12,001 to £25,499 - pay at SBRR multiplier

Since April 2009 we have increased take up by over £300,000

EMPTY RATES

The rates exemption for empty units has been extended for another year and the rateable value limit increased from below £15,000 to below £18,000

CROSSRAIL

The cross rail surcharge applies to properties with a rateable value of £55,001 and above. The levy is 2p in the pound and applies to approx 940 properties in Wandsworth, but luckily only a few on our estate.

For example for a rateable value of £60,000 – Crossrail of £1,200.00 will be payable.

HARDSHIP SCHEME

51 businesses in Wandsworth have qualified for relief totalling over £30,000

WANDSWORTH'S RESPONSE

Wandsworth Council is campaigning for:

a return to local control for business rates

postponement of the 2010 re-valuation.

USEFUL WEBSITES

Business Rates – www.wandsworth.gov.uk/businessrates

Business Support – www.wandsworth.gov.uk/business

Valuation Office – www.voa.gov.uk

Business Debt Line – www.bdl.org.uk

Federation of Small Businesses – www.fsb.org.uk

Date: Mon 8th Mar 10

Comments...

Other News...

90 % OF THE BID LEVY FOR 2010/11 COLLECTED

Wandsworth Council has informed us that 90 % of the BID Levy has now been collected. For the balance Court Proceedings have started. » Full Story

MONTHLY UPDATE FROM JUDITH ROSCOE

Hopefully you will have already spotted Judith's monthly updates made public in a display case outside John's snack van. Read on for her August Update. » Full Story

BID REPORT FOR THE YEAR 2009/10

A whole year has passed since we have become a BID area. Most of the money raised as BID levy went towards installing CCTV estate wide and the Council supported us again with a grant of £14,000. » Full Story

NATIONAL GRID PLANNING APPLICATION

We have been notified of a planning application from National Grid with regards to the construction of a headhouse for their cable tunnel. » Full Story

FLY TIPPING ON THE ESTATE

Some of you will have noticed a pile of tyres being dumped outside the National Grid Gate. Luckily we know now who has done it! » Full Story

PUBLIC MEETING 23rd JUNE 2010

As you know, England playing in the World Cup clashed with the public meeting, which meant apart from the committee not too many made their way to Malcolm Ryan Studios. » Full Story

BREAK-INS VIA THE RIVER WANDLE

Some of the units backing onto the river Wandle suffered break-ins over the weekend. Whoever they were, they were after metal, in particular copper. » Full Story

GATES OPENING HOURS

Here are the opening hours for both gates from April through to November - with occasional exceptions when there is an event on over the weekend like the forthcoming exhibition at the artists' studios » Full Story

MOBILE PHONE AND POLICE EMERGENCY SERVICES

You might have received an email stating that police emergency services can be called from your mobile phone by dialling 112 even if there is no signal. This is a hoax, but ....... » Full Story

JUST A BIT OF HISTORY .........................................

For well over 100 years industry chose the area near the River Wandle as a preferred location. Amongst other industries colour manufacturers and paper making businesses flourished in Summerstown. » Full Story

Click here to view Wimbledon Stadium Business Centre

Click here to view Elms Industrial Estate

Map of Garratt Business Park

Units:

Quick Search: Thu 09 Sep 2010 sitemap