What are Business Rates

What are Business rates?

Business rate, otherwise known as National Non-Domestic rate (NNDR) is a tax on properties that are not used for domestic purposes such as shops, factories and offices.

View more information on business rates

If your property is used for both domestic and non-domestic purposes part of it will be assessed for business rates and the other part for Council Tax, for example a public house.

Non-Domestic Rates, or business rates, collected by local authorities are the way that those who occupy non-domestic property contribute towards the cost of local services.

Under the business rates retention arrangements introduced from 1 April 2013, authorities keep a proportion of the business rates paid locally. This provides a direct financial incentive for authorities to work with local businesses to create a favourable local environment for growth since authorities will benefit from growth in business rates revenues.

The money, together with revenue from council tax payers, revenue support grant provided by the Government and certain other sums, is used to pay for the services provided by local authorities.

We now have  2 business improvement districts, Hainault Business Park and Ilford Town Centre.

How to find out what your rateable value is?

Business rates are based on the rateable value of your property and are assessed by the Valuation Office Agency. Find out more about how rates are calculated. The current rateable (2017 list) value broadly represents the annual rent the property could have been let for in 2015, a copy of which may be inspected at Valuation Office Agency's website or at our offices.

The Valuation Office
First floor, Lloyds Chambers
1 Portsoken Street
London
E1 8BT

Telephone - 03000 501 501 

You can also estimate your business rates online

 

Revaluation

The national non-domestic rating multiplier is the rate in the pound fixed each year by the Government. After each revaluation, the poundage is adjusted so that the total burden on ratepayers remains broadly the same.

View more information on revaluation

Between revaluations the rate in the pound cannot increase by more each financial year than the annual rate of inflation in the previous September.

The rating multiplier

  • 2017/18 is 0.479
  • 2016/17 was 0.497

The Small Business Rate Relief multiplier (rateable values under £25,500)

  • 2017/18 is 0.466
  • 2016/17 was 0.484 

Exempted buildings and empty buildings relief

View information on exempted buildings and empty buildings relief

 

Discretionary Rate Relief

We have the discretion to remit all or part of any rate bill in respect of property occupied by certain bodies not established or conducted for profit. View the criteria for considering applications for Discretionary rate relief (PDF 52KB)

To apply please download and complete the Discretionary Rate Relief form (PDF 131KB)

Please send relief application forms to business.rates@redbridge.gov.uk or write to:

Business Rates
Lynton House 
255- 259 High Road
Ilford, Essex
IG1 1NY  

 

Enquiries

If you have any questions about your Business Rates, please contact us quoting your Business Rate reference number by:

  • email: business.rates@redbridge.gov.uk
  • writing to London Borough of Redbridge, Business Rate Office, Lynton House, 255-259 High Road,  Ilford, Essex, IG1 1NY
  • phoning (020) 8708 4357, to use Text Relay - prefix the number with 18001

 

Business rates documents 2017/18

Business rates documents 2018/19

Business Improvement District Results 

Following a ballot, the Ilford Business Improvement District (BID) has been successfully renewed for a third five year term which will commence on 1 April 2019. 

  • 44% of Businesses voted in the ballot
  • 85% of businesses that voted were in favour by majority and
  • 92% were in favour by rateable value

 

For further information please see www.ilfordbid.com

 

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