With business rates adjusted each April, normally in line with the rate of inflation in the previous September, the rates increase for 2009/10 is 5%.
The government recently introduced a deferment of rates payments scheme whereby ratepayers can now seek to have a percentage of any increase in rates payable deferred over a longer period.
Ratepayers will be allowed to defer up to 60% of the annual increase in their 2009/10 bills until 2010/11 and 2011/12.
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Alan McKenna, FRICS, Dip Rating, head of rating at J&E Shepherd, said: "This means that ratepayers will have the option of spreading part of their 2009/2010 increase over three years. The amount to be spread will be based upon the total annual increase in the ratepayer's bill in 2009/10.
"It is notable that under the Scottish legislation, the deferral arrangements will be introduced more quickly than in England where similar legislation is not expected to be brought forward for several months."
Another scheme which is attractive to small businesses is the Small Business Bonus Scheme.
This scheme was introduced with a view to assisting small businesses in their rates payments. Provided that the combined RV of a businesses' total Rateable Value amounts to £15,000 or less.
"Every property - from a corner shop to a football stadium - is subject to a rates revaluation every five years and, in Scotland, occupiers have a strict period during which they can lodge an appeal. Should they miss the appointed deadline, even by a day, then there is nothing they can do for another five years. That's why I would urge ratepayers to seek professional advice without delay," said Mr McKenna.
(GK/JM)
