Any property that is used for commercial purposes may need to be rated for non domestic rates (Business Rates) depending on the exact nature of its usage.
Holiday lets and holiday cottages are assessed for rateable value under Business Rates if the following criteria applies:
- The property is available to let out for a minimum of 140 days or more per financial year
In order to get the holiday let or cottage assessed with a rateable value we will need to see the following evidence before we can report it the Valuation Office:
- Proof it is available to let for atleast 140 days or more per financial year
- Proof that is advertised for use as a holiday let
- Proof of planning permission if needed - please check with our Planning Team
Once we have reported it through to the Valuation Office they will complete their own checks and may ask you directly for more information. They will then make a decision on what the rateable value for the property will be and notify both the owner and the Council so we can create a new Business Rates account and issue a bill to you.
If the property is only available to let for 139 days or less per financial year it will be given a Council Tax band.
If the property is let on a long term basis so that it becomes, for example, someone's sole or main residence, then it will no longer be liable for a Business Rates rating assessment. If it is already assessed for rating purposes, its entry will be deleted from the rating list and it will be banded for Council Tax from the date when it became a domestic property.
You can find more information on the Valuation Office website.