Business rates
What are business rates?
Non-domestic rates are commonly known as business rates,
and are a national tax on buildings or structures known as
hereditaments which are not used for domestic
accommodation.
Hereditaments are assessed by a district valuer who compiles a
'list' every five years which shows the address, description and
rateable value of every assessment within the Borough of
Broxbourne.
Broxbourne Borough Council is responsible for billing and
collecting the rates within its boundaries. Non-Domestic
Rates, or business rates, collected by local authorities are the
way that those who occupy non-domestic property contribute towards
the cost of local services. Under the business rates retention
arrangements introduced from 1 April 2013, authorities keep a
proportion of the business rates paid locally. This provides a
direct financial incentive for authorities to work with local
businesses to create a favourable local environment for growth
since authorities will benefit from growth in business rates
revenues. The money, together with revenue from council tax payers,
revenue support grant provided by the Government and certain other
sums, is used to pay for the services provided by your local
authority and other local authorities in your area. Further
information about the business rates system, including
transitional and other reliefs, may be obtained at
the Gov UK website.
For further information, a business rates
information leaflet 2013/14 is available.
Who pays business rates?
The occupier of a non-domestic assessment is responsible
for paying the business rates. If
a property is empty, it could still be
liable for 'unoccupied property rates'. If this is
the case, the person who holds the legal title ( lease or licence)
for the property is liable.
What is a non-domestic assessment or hereditament?
This simply means something on which rates can be charged.
For example, an advertising hoarding on the side of a building is
not a property but it still attracts a valuation for non-domestic
rates.