REDUCE YOUR RATES

How to reduce your business rates

You reduce business rates by claiming every relief you qualify for and by making sure the rateable value and multiplier on your bill are correct. Most savings come from relief that was never applied, or a valuation that's too high.

A business rates bill is rarely as fixed as it looks. Between unclaimed relief, the wrong multiplier and over-stated valuations, the average saving we find is over £1,000 a year. Here are seven legitimate ways to bring yours down.

Seven ways to cut your bill

1. Claim Small Business Rate Relief. Under £15,000 rateable value you may pay reduced or zero rates, but it's often never applied unless you ask.
2. Get the right multiplier. Retail, hospitality and leisure premises under £51,000 should be on the 38.2p RHL multiplier, not the 48.0p standard rate.
3. Correct an over-stated rateable value. If your valuation is too high or out of line with neighbours, challenge it through the VOA, a reduction lowers every future bill.
4. Claim empty property relief. Empty premises get a rates-free period, three months, or six for industrial, and some are exempt for longer.
5. Check for transitional relief. After a revaluation, large increases should be capped and phased in. Make sure it's on your bill.
6. Use sector-specific relief. Pubs and live music venues, charities, rural businesses and others have their own reliefs worth claiming.
7. Reclaim what you've overpaid. If a reduction or relief is granted, ask for it to be backdated and refunded for earlier years.

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