Business Rates
National Non-Domestic Rates or business rates, as they are more
commonly known, are the Government’s tax on business properties.
Local authorities collect business rates for the Government and
they are then redistributed across the country as part of an annual
formula grant settlement.
Business rates are normally payable in 10 monthly instalments
but can be paid yearly, half-yearly or quarterly.
For 2012-13, businesses in Kensington and Chelsea are expected
to pay £254.1 million in business rates, of which the Royal Borough
will receive £98.9 million. The gross annual bill is calculated by
multiplying the rateable value of the property by the appropriate
rate multiplier. For 2012-13 the multiplier is 45.8p (45.0p for
businesses that qualify for Small Business Rate Relief). The net
rates bill may differ if: you qualify for a relief or exemption;
transitional arrangements apply; you have deferred rates due for
2009-10 under the deferral scheme or your property is subject to
the Business Rates Supplement (BRS).
Further information concerning business rates can be found
on the Business Link
website.
Forms for businesses moving into or out of the
borough
Business Rates information
Rateable Values and Transitional Arrangements
Business Rates Relief
Business Rates Payments Methods and Billing
Council Tax and Business Rates booklet 2012-13
Here is the new Council Tax and Business Rates booklet for
2012-13 outlining the Council's performance and spending plans, as
well as information regarding council tax and business rates:
This is a PDF (file size 530Kb).
Budget 2011 announcement: a further one year increase of Small
Business Rate Relief
On the 23 March 2011 the Chancellor of the Exchequer announced
that the current temporary increase in Small Business Rate Relief,
which started on 1 October 2010 and was due to end on 30 September
2011, will continue for a further year (1 October 2011 to 30
September 2012). The measure doubles the usual rate of relief so
that ratepayers with rateable values below £6,000 pay no rates at
all for the period, while ratepayers with rateable values between
£6,000 and £12,000 receive tapered relief from 100 per cent to 0
per cent.
The current scheme came into effect in October 2010 when the
Government introduced a temporary increase in the level of Small
Business Rate Relief (SBRR) available to eligible businesses.
For more information, go to the Small Business Rate Relief
page.