Comercial rates

unreg999

Hi, I'm hoping for a bit of help please? Myself and my friend recently set up a business in Westmeath, we are struggling a bit with rent, bills etc, I am on the back to work enterprise scheme...
We haven't been contacted by the rates office yet but we are both a bit anxious about what will happen when we do get that letter as we are barely covering the rent and bills as it is let alone making a living wage out of it.
We are both confident that it will pick up but these things take time and we would hate to be blown out of the water before we even had a chance to succeed.
I have done a bit of research and know that rates are based on the 'rateable valuation' multiplied by the 'AVR', my question is, how is the rateable value calculated? Is it based on the rent?
Also, do you have to pay the 'back rates' when you get a letter or is it calculated from the time they actually send you the letter?
Are rates paid all at once or can you pay a certain amount per month?
Thank you in advance

Claw Hammer

unreg999 wrote: »

Hi, I'm hoping for a bit of help please? Myself and my friend recently set up a business in Westmeath, we are struggling a bit with rent, bills etc, I am on the back to work enterprise scheme...
We haven't been contacted by the rates office yet but we are both a bit anxious about what will happen when we do get that letter as we are barely covering the rent and bills as it is let alone making a living wage out of it.
We are both confident that it will pick up but these things take time and we would hate to be blown out of the water before we even had a chance to succeed.
I have done a bit of research and know that rates are based on the 'rateable valuation' multiplied by the 'AVR', my question is, how is the rateable value calculated? Is it based on the rent?
Also, do you have to pay the 'back rates' when you get a letter or is it calculated from the time they actually send you the letter?
Are rates paid all at once or can you pay a certain amount per month?
Thank you in advance

did you check the rates were up-to-date before you moved in?

drunkmonkey

Call them there should be a rate already on the building. You don't have to pay them until new years eve so start saving, they'll send you letters looking for money but ignore them it's only bluff, they may even threaten legal action with a red letter, again it's just bluff ignore it and pay before the new year.
You'll be charged from when you started, make sure your only paying rates on your part of the building, there's no issue in ringing them to get the price tomorrow so at least you know what to expect. If it's way more than you expected go talk to the landlord and see what he'll do on the rent so you can stay afloat.

clio_16v

unreg999 wrote: »

Hi, I'm hoping for a bit of help please? Myself and my friend recently set up a business in Westmeath, we are struggling a bit with rent, bills etc, I am on the back to work enterprise scheme...
We haven't been contacted by the rates office yet but we are both a bit anxious about what will happen when we do get that letter as we are barely covering the rent and bills as it is let alone making a living wage out of it.
We are both confident that it will pick up but these things take time and we would hate to be blown out of the water before we even had a chance to succeed.
I have done a bit of research and know that rates are based on the 'rateable valuation' multiplied by the 'AVR', my question is, how is the rateable value calculated? Is it based on the rent?
Also, do you have to pay the 'back rates' when you get a letter or is it calculated from the time they actually send you the letter?
Are rates paid all at once or can you pay a certain amount per month?
Thank you in advance

Rateable Valuation is a figure given to your commercial space. Afaik, this is based on a number of factors including location, sq footage, type of business, ground floor / 1st floor etc etc.

The council will generally take money in whatever way you can pay i.e. weekly / monthly

It is possible to be caught for back rates of previous tenants. Get a solicitor to check your lease on this

368100

unreg999 wrote: »

Hi, I'm hoping for a bit of help please? Myself and my friend recently set up a business in Westmeath, we are struggling a bit with rent, bills etc, I am on the back to work enterprise scheme...
We haven't been contacted by the rates office yet but we are both a bit anxious about what will happen when we do get that letter as we are barely covering the rent and bills as it is let alone making a living wage out of it.
We are both confident that it will pick up but these things take time and we would hate to be blown out of the water before we even had a chance to succeed.
I have done a bit of research and know that rates are based on the 'rateable valuation' multiplied by the 'AVR', my question is, how is the rateable value calculated? Is it based on the rent?
Also, do you have to pay the 'back rates' when you get a letter or is it calculated from the time they actually send you the letter?
Are rates paid all at once or can you pay a certain amount per month?
Thank you in advance

How did you not factor in Rates into your costs when setting up the business?