Lewes Forum thread

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Rent v rates

On 3 Apr 2018 at 9:17am Nevillman wrote:
People often cite business rates as the reason why a particular shop is leaving our high street. How do rates compare with rent though in percentage terms? Are businesses being 'forced out' because of the demands of property owners or councils? Answers based on knowledge of the facts would be appreciated.
On 3 Apr 2018 at 9:55am Just me wrote:
Business rates are based on the size of the property you are renting and not a percentage of the rents.
Business rates in Lewes are more expensive than other places close by (eg Uckfield).
The business rates will also vary depending on the usage of the property (office use is more expensive than a warehouse, shops are more expensive than offices etc).
A quick google search on Supedrug has their yearly rates of £49,500. You then need to divide this by the correct multiplier (£0.479) and then divide that cost by 10 (you pay business rates like you do council tax).
I'm not sure what the monthly rental cost of superdrug will be but I imagine it would be around £3.5k per month
On 3 Apr 2018 at 10:02am Old Malling wrote:
My understanding is that the rateable value of a business was set based on an estimated commercial rent. Then multiplied by the correct multiplier so the rates will theoretically be about half the rent for the year.
On 3 Apr 2018 at 10:08am Old Malling wrote:
Or maybe not. Iíve just taken a look at a property to rent. £54k p.a. rent and £15k business rates (industrial unit rather than commercial)
On 3 Apr 2018 at 10:21am Just me wrote:
@old malling, it isn't based on the rent. I work in the industry and deal with business rates. It is based on the size of the space you occupy.
Some people will be eligible for small business rates relief (which in some cases makes them exempt). No shops will fall into the category of business rates relief either due to the size of the shop or because they have more than 1 shop
On 3 Apr 2018 at 12:17pm Sarah wrote:
Unless you are a pub and then itís based on your turnover, mightily unfair on the smaller premises.
On 3 Apr 2018 at 12:36pm Maria Coalheap wrote:
'Answers based on knowledge of the facts would be appreciated.'
I think you've got the wrong forum pal.
On 3 Apr 2018 at 11:39pm Mario wrote:
It also depends on your proximity to the 'High St' and main shopping areas. If you are off the 'High St' by a street or more, your rates are significantly lower.

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Bonfire Torches 11:132
Bonfire Torches

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