Farm business rates rises leave rural businesses asking questions

Farmers and agricultural businesses who are facing a business rate rise in April are being left facing uncertainty about how the new rules will affect them, according to East of England-based accountants, Moore Thompson.

Key issues include how rural businesses which operate a farming element, and a diversified element are assessed as differing rules apply.

Rural businesses are also unsure about what to do if they feel they are being overcharged for business rates, and how to appeal this.

Chris Wright, Agricultural and Rural Affairs specialist, offers some general advice for those possibly affected by the forthcoming business rate rises…

What are the implications for diversified farms?

The implications for diversified farms surround identifying the parts of a business is agricultural and which is not. Solely agricultural ventures are exempt from paying any rates.

But for example, is if a barn has part of its floor space used as a retail premises or office, the whole building’s floor space would be liable for business rates. There is also various other form of relief for diversifications such as holiday lets. Many of these are used in a tapering format, dependent on the split of the business etc.

How can I work out what rates I might pay?

You can use the Value Finder to search for your property via it’s address or postcode.

Government Rateable Value Finder

How do I appeal if I think my Business Rates are too high?

You should use the Government Value Finder to make an initial assessment. This is first part of the ‘Check, Challenge, Appeal process. If you decide to appeal, you will need to engage professional help to guide you through the process. If in doubt, then get in touch with us.

Where can I get advice on Business rates?

Our experts within our ARA Team can provide you with help and advice on business rates and help you to incorporate these costs into a wider farming strategy. To find out how we can help, please contact us.