9:18 AM, 16th July 2021, About 2 months ago 13
I have two properties owned jointly, no tenants in either. The Rateable value of one is £2,435, the other £1,650. They are both shops in listed buildings (residential flats above).
Are both exempt from business rates even if empty or tenanted, as both under £12kRV? I thought anything under £12k RV was exempt anyway BUT does this apply if you own the two properties?
OR is one liable for Small Business relief and the other not because of joint ownership? (even if one property is still under £15k RV and one is below the £2,900 level? two property SBR rule?)
Does it make any difference at all if they are owned by joint owners given the above, or are they both excluded from rates anyway as they are both under £2,900RV and nothing payable until they are occupied?
For purposes of Business rates, is there a difference between ‘unoccupied’ and ‘vacant/empty/void’?
You can get small business rate relief if:
Contact your local council to apply for small business rate relief.
You will not pay business rates on a property with a rateable value of £12,000 or less.
For properties with a rateable value of £12,001 to £15,000, the rate of relief will go down gradually from 100% to 0%.
If your rateable value is £13,500, you’ll get 50% off your bill. If your rateable value is £14,000, you’ll get 33% off.
When you get a second property, you’ll keep getting any existing relief on your main property for 12 months.
You can still get small business rate relief on your main property after this if both the following apply:
If your property in England has a rateable value below £51,000, your bill will be calculated using the small business multiplier, which is lower than the standard one. This is the case even if you do not get small business rate relief.
The small business multiplier is 49.1p and the standard multiplier is 50.4p from 1 April 2019 to 31 March 2020. The multipliers may be different in the City of London.
You do not have to pay business rates on empty buildings for 3 months. After this time, most businesses must pay full business rates.
Some properties can get extended empty property relief:
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