Stafford shops closing - Turning into a ghost town?

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airbusA346

Well-Known Forumite
Cue said:
On one small correction: it would be sustainable if not for the £58,000 rateable value on a building with a rent of £25k.

No wonder the high street is dying when the VOA is sabotaging it.
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If the rateable value is £58k (I can't see it mentioned in any recent adverts for the premises). £58,000 (rateable value) x £0.512 pence (Standard multiplier) = £29,696 (basic business rates).

So the business rates bill is £29,696 for 2023/24. Currently retail can get 75% off for this financial year, so £7,424.

Also if the business thinks there VOA valuation is wrong, they could always get it amended.
 
Cue

Cue

Well-Known Forumite
airbusA346 said:
If the rateable value is £58k (I can't see it mentioned in any recent adverts for the premises). £58,000 (rateable value) x £0.512 pence (Standard multiplier) = £29,696 (basic business rates).

So the business rates bill is £29,696 for 2023/24. Currently retail can get 75% off for this financial year, so £7,424.

Also if the business thinks there VOA valuation is wrong, they could always get it amended.
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And you don’t see that as a serious problem, that they have to pay almost £30k a year in rates when there’s not some temporary relief in place?

That’s more than the rent. That rates money could go to hiring staff, paying rent, utilities, etc.

The VOA will never adjust a valuation enough to make a dent, the entire business rates system is horrendous. Even the government knows it, they were due to reevaluate the entire thing before COVID hit.
 
A

airbusA346

Well-Known Forumite
Cue said:
And you don’t see that as a serious problem, that they have to pay almost £30k a year in rates when there’s not some temporary relief in place?

That’s more than the rent. That rates money could go to hiring staff, paying rent, utilities, etc.

The VOA will never adjust a valuation enough to make a dent, the entire business rates system is horrendous. Even the government knows it, they were due to reevaluate the entire thing before COVID hit.
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I was pointing out that the rateable value isn't what the business pays in rates.

So if the business doesn't have to pay that much in rates, who pays it then? At the end of the day it is a business expense that has to be factored in, just like wages, rent, utilities etc.
 
Cue

Cue

Well-Known Forumite
airbusA346 said:
I was pointing out that the rateable value isn't what the business pays in rates.

So if the business doesn't have to pay that much in rates, who pays it then? At the end of the day it is a business expense that has to be factored in, just like wages, rent, utilities etc.
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Oh yeah I’m aware - my building has a similar rateable value.

It goes to central and the local government sees pennies of it, business rates have long been criticised as being a huge problem as it discourages growth of a business. Suddenly you go from not paying much to paying an absolute fortune.

It’s not my job to come up with a better system though, but it’s hardly comparable to utilities which would be a fraction of the amount you have to pay in rates.

The one thing I do know though, is it’s massively contributing to the death of the high street - the VOA has been overvaluing highstreet premises for years, and even just being nearer to town has a dramatic effect. You know those offices on Weston Road near the coop and such? Those are relatively small but if I recall from many years ago when I was hunting for a unit they aren’t eligible for rate relief as the £/sqm was too high, meanwhile you can get a bigger unit in the tech park with 100% small rate relief purely because the valuations are more sensible.

And like I said, there’s some serious questions to be asked about the way they value aspects too. Having AC - which is part and parcel of having a heat pump system - adds to their valuation of the unit, but if you had a hyper-inefficient set of electric ceiling heaters like my old unit did then those aren’t counted but cost a fortune to run due to using a horrendous amount of electricity. You basically get punished for being more environmentally friendly.
 
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littleme

littleme

250,000th poster!
Tritex games too



Screenshot_20230629_194718_Opera.jpg
Screenshot_20230629_194736_Opera.jpg
 
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E

EasMid

Well-Known Forumite
That’s just plain wrong. Flonking your dwile in public especially if kids are around. Disgusting.
(Edit: bloody autocorrect)
 
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E

EasMid

Well-Known Forumite
Entropy said:
Could be good to have an Umpah band playing on the stage too?
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Mudgie said:
Flanker or Flonker ?
Now can we please get back to discussing Stafford shops closing ?
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Noah said:
No, not until I get to say that I once refereed a dwyle flunking match at a rural Greene King pub in the 1980s. Also involved tug-of-war, morris dancing and thunderstorms.
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That really had to be The Royal Oak at Church Eaton. ( possibly too late for the Swan)
 
Mudgie

Mudgie

Well-Known Forumite
Noah said:
No, not until I get to say that I once refereed a dwyle flunking match at a rural Greene King pub in the 1980s. Also involved tug-of-war, morris dancing and thunderstorms.
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I think that all sorts of customs, some illegal, survived longest in rural East Anglia.
I expect the thunderstorms took the most organising, though they will have made the beer go further before a mighty Flood ended the day !
 
Mudgie

Mudgie

Well-Known Forumite
EasMid said:
That really had to be The Royal Oak at Church Eaton. ( possibly too late for the Swan)
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No, Greene King didn't have any pubs near here back then.
Now their only rural one nor far away is the Barley Mow.
 
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