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The Council is now offering a new service on its website to all residents of the Borough. It is called "OPENGedling" and you can register as a user simply by clicking here open.gedling.gov.uk. You can also email enquiries to OPENGedling@gedling.gov.uk .
With a few specific exceptions, the Valuation Office Agency provides a separate value for each non-domestic property in England and Wales. The rateable value is based on the market rent that each property would be expected to command. It is important to note that the rateable value is one of the key figures used to calculate how much business ratepayers will pay in rates, but it is not the rates bill. Local authorities calculate the rates bill by multiplying the rateable value by a factor set by central government. Rateable Values appear in the rating list, a public document that can be viewed on the Valuation Office Agency website. A revaluation is carried out every five years so that the values in the rating list can be kept up to date.
The latest revaluation came into effect on 1 April 2005 and was based on market rental values as they stood at 1 April 2003. You can check your rateable value and get further advice on all aspects of your business rates on the new Business Link website. This website has been created in a partnership between the VOA and the Department for Communities and Local Government. The site is a "one stop" information service aimed primarily at smaller, independent business ratepayers. It is designed to bring together information the business ratepayer might want or need to know about business rates.
The aims of the VOA for Revaluation 2005 are to:
If you think your rateable value is wrong you can make a proposal to alter it. This is known as making an appeal. If you decide to appeal you should do so as quickly as possible. This is because for most appeals there are limits on how far back any change in value will go.
If your rateable value changes as a result of your appeal and the amount you have to pay is altered, you will receive a revised bill. In the meantime, you must keep up your payments as shown on your original bill. If you do not keep up your payments recovery action will be taken. When the appeal is settled, if you have overpaid your business rates a refund will be issued including interest, if applicable. For further details click on appeals.
The Government has introduced a new rate relief scheme to help small businesses from 1 April 2005. The scheme gives properties with a rateable value of less than £10,000 a percentage of relief from their business rates, the relief will be on a sliding scale. The relief will usually apply to businesses occupying one property in England.
In order to receive this relief the ratepayer must make an application of the Local Authority. To request an application form please contact The Local Taxation Section, Gedling Borough Council, Civic Centre, Arnot Hill Park, Arnold, Nottingham, NG5 6LU or telephone (0115) 9013949.
For further details click on Reliefs.
How are my Business Rates calculated?
All Business properties included in the local list have a rateable value. In order to calculate the amount payable, this rateable value is multiplied by the Non Domestic Rating Multiplier (rate poundage) for that year. Any relief or surcharge is then applied leaving the balance payable by monthly instalments as specified on your bill.
Example: Rateable Value
£1000 x Multiplier 42.2p in £ = Amount Payable - £1000 x 0.422= £422.00
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