Are you a pub owner? If you are you probably know that you need to pay business rates. You also may be aware that the amount (by percentages) paid by pubs are agreed with the British Beer and Pub Association and they’re in the VOA’s pub guide. (Valuation Office Agency).
But did you know that over 15 pubs a week are forced to close after last business rates revaluation in April 2017?
Over 390 pubs were closed just between April and September 2017, after revaluation.
Business rates for public houses in some areas of London gone up over 400%.
Many pubs are now under threat because of business rates revaluation. Of course, there are many reasons for closures over the years, like smoking ban in 2007, the recession in 2008, but the new business rates revaluation introduced in April last year is the ‘Nail in the coffin’ for remaining pubs.
An owner of a pub in the city of Bath admitted that his bill rose from £9,800 to £25,500! Yes, that is a lot.
The owner of the pub said: “I don’t know how they’ve arrived at this valuation,” he says. “There are four pubs within a 10-minute walk and their rates have only gone up by between £1,000 and £2,000.”
Can anything be done? Perhaps the pub owner is not aware of all the options? What about you? Are you aware of the Pub Relief Scheme?
A £1000 business rates discount is available for pubs with rateable values of less than £100,000. The discount is for 2017-18 only.
Find out more – call Business Rate Advisors Ltd for help and advice:
01225 667 747 or visit our website: https://www.businessratehelp.co.uk/