Don’t panic!

Christchurch Council is advising businesses in the borough not to panic over the new rateable values they have received as the increase this year may not be as large as they fear.

Businesses should have now received notice of their new 2010 rateable value, which will be used to calculate their 2010 business rates bill. Business rates are set nationally by the valuation office and the council has no jurisdiction over this.

The 2010 rateable value is not the 2010 rate bill, which is calculated by multiplying the rateable value by a ‘multiplier’ set by central government each year.

But a transitional scheme has been put into place to cushion the effect of potentially large increases or decreases. This scheme is automatic, so there is no need for ratepayers to apply.

Cllr Sally Derham Wilkes, portfolio holder for Business & Tourism at Christchurch Council, said: “There may be some businesses who have received notice of their rateable value and seen that it has gone up significantly. We would say to them: don’t panic as the transitional scheme will ensure that small businesses will see an increase of no more than five per cent while larger businesses’ increase will be limited to 12.5 per cent.”

This transitional scheme will last for five years, so that businesses will experience stepped increases or decreases during each financial year.

For further information about the rateable value go to www.2010.voa.gov.uk/rli or contact the helpline on 0845 602 2010.

Small businesses – with a rateable value of less than £18,000 - can also apply for Small Business Rate Relief. If they have already been receiving this, there is no need to reapply.

The contact at Christchurch Council for business rate enquiries is Paul Bliss, Revenues Business Unit Manager, on 01202 495204 or email p.bliss@christchurch.gov.uk.