Bed & Breakfast News Christmas 2016 (#43) | Page 6

6 | Bed & Breakfast News | Christmas 2016 I am currently NOT paying anything at all for business rates as we enjoy 100% small business rate relief. Interestingly the small business relief has not been increased by the same proportion as the valuation. Member letter: Business rates – a warning: I’m sure you are already aware of the recent massive rise in business rates. Currently our valuation is £5,400 and we benefit from small business rate relief of 100%. The new business rates valuation we were presented with (apparently without any inspection or communication with us) was £23,750. Assuming that we were charged say 46p in the pound we would face a massive bill next year of almost £11,000 per year - or to put it another way, almost 10% of our turnover! We would also (presumably) continue to pay the ‘Council Tax’ of £1,200 per year, as we live on the premises. I have subequently spoken to the valuation office, who got one of their valuation team to call me back. She told me that my annual bill would be £2993 (their website says: “this estimates your business rates bill by multiplying the rateable value for your business with a ‘multiplier’ set by the government and then applying small business rates relief or transitional relief. It’s only an estimate”). My understanding is that the transitional relief will disappear quite quickly - and they don’t actually say what the payment would be after that relief expires. Later, the valuation office called me back. Their indifference to the affect it will have on my business was frightening! The gentleman I spoke to couldn’t even tell me how long the ‘interim relief’ would be in place for. We also will NOT be allowed to make a formal appeal / complaint before 1st April 2017, and we have to start paying the new figure whilst we appeal. I and the Chair of my local hospitality association have a meeting with a local Councillor on 5th December. I am also considering writing to my MP. Thanks to the B&B Association for looking at this, it’s very worrying - they are big numbers. Kind Regards, G Do you know how your Business Rates will change next year? Do let us know, as we are campaigning for more rate relief for small B&Bs. Email us at: [email protected]