If you have any business premises you will have to pay business and water rates on your premises. The local rating authority, the estate agent and your local water company will be able to give you some guidance as to how much these will be.
When you start a new business and/or move into new business premises, your local authority will normally send you a business rates bill for the correct amount. Then every year you'll get a new bill for the forthcoming tax year, usually in February of March.
You may be eligible for a discount on your business rates under a business rates relief scheme. Relief schemes vary around the UK, so it's best to contact your local authority to find out if you are eligible and if so how to make an application. Your local authority will apply some reliefs automatically, but you will have to apply for others that you may be eligible for.
Business rates are normally paid in ten monthly instalments between April and January. However, some councils also give businesses the option to pay quarterly, half yearly and/or annually. Water rates are generally paid monthly, although some water companies give the option of paying them annually in advance.
Check with your local council to see whether your business is eligible for rural rate relief.
Enter in the cash flow the amounts payable in the months you have decided to pay them.
You can find details of the rateable values of all non-domestic properties in the UK from:
- the Valuation Office Agency (VOA) section of the Gov.uk website for properties in England and Wales
- the Scottish Assessors Association (SAA) website for properties in Scotland
- the Land and Property Services (LPS) section of the Department of Finance (DoF) website for properties in Northern Ireland