Rates warning, valuation officers could be operating in your area!
The Government have made amendments to Business Rates, the new system is intended to help the High Street, be fairer, and easier to understand, so all good
The reality, well our business rates have increased 45% (which is roughly 15 times the rate of inflation). This is because we are two shop units; if we were one then we wouldn’t pay anything. The simple method for working out your commitment, well you are either multiplier or a SBRR multiplier that is multiplied by your NC, then they take your BL and multiply that by your AF and then deduct your NC, obviously a child could work that out.
Thus far our new rates are far more expensive, totally unfair, and virtually impossible to work out. My colleagues and friends with business’s locally are also not overly impressed with the new system, so I invited Richard Cornelius Leader of the Council and Matthew Offord our MP to the shop to discuss this with us.
The meeting was cordial and honest, but the bottom line is Rates are a poor tax system and the latest amendments have just made them worse.
Quick one, with Parliamentary candidates before an election who are interested in sailing, I generally offer them blinding deals and tell them that even though they were just club sailors we could easily turn them into champs. Then after the election I just deny it all.
Also Happy Birthday Gerbil!!