BUSINESS NEWSLETTER - APRIL 2014 Did you Know that Commercial Rates were reduced by 4.8% over the past 5 years? This reflects my input to Dublin City Council budget consultative meetings in the past 5 years.
Commercial rates Commercial rates are a big cost for your business. Have you checked what space you are paying for? Is the rateable value in line with the market? If you occupy business premises, generally you have to pay rates. Commercial rates are a tax based on the rateable value of the property, reflecting its rental value. The rateable value can be challenged. It may change if the premises are altered. The Valuation Office assesses the rateable value of all relevant properties in Ireland and publishes a rating list for each council. The rating list can be seen at the office of the Valuation Office at Irish Life Mall, Abbey Street Lower, Dublin 1 or online at www.valoff.ie. You can get a copy from Dublin City Council. Most business premises are assessed for rates and have a rateable value. However the following are exempt from commercial rates: u Living accommodation u Premises occupied by the State and charities. 2 factors make up your commercial rates: Rateable Value of your property X Annual Rates Multiplier (ARV) = Rates
Timing You get a rate demand from Dublin City Council around February each year. Dublin City Council accepts 2 half payments, one in February and one in July, equal direct debit monthly payments or standing orders. Rating legislation is very complex and the best advice is to consult the professional - your chartered surveyor - at the earliest possible stage in the process. To appeal a valuation, you can make 2 appeals to the Valuation Office and one to the Valuation Tribunal, an independent body. There is also a further appeal to the Courts but only on a point of law. If a property is empty then you get a 50% refund. To qualify, premises must be vacant for one of the following reasons. Appropriate proof of Vacancy must be submitted before any claim can be considered.
/Ruairi McGinley E: ruairi.mcginley@dublincity.ie
(a) (b) (c)
Vacant for letting - evidence must be produced showing efforts to let Vacant for repairs or alterations-a certificate from Contractors / Architect Held vacant pending demolition/re-development-a certificate from a Contractor/Architect
Cut your energy bill by 20% SEAI (Sustainable Energy Authority of Ireland) provides free services to businesses to cut their energy use and save money. 1.) Assessment, Mentoring and Advice service: SEAI provides a consultant from a panel to do a structured review for a company 2 to 2. 5 days over the course of three months. 2.) Training courses on energy management 3.) Financial Assistance - tax incentives available through Accelerated 4.) Capital Allowance (ACA) scheme - visit www. seai/aca, grants available to put in alternative heat technologies. Visit www.seai.ie/ reheat Contact SEAI business Phone 01 808 2087 Email: business@seai.ie Web www.seai.ie/business
Start & Grow Your Own Business Free lecture series April - May & September - October 2014 Business Information Centre, Central Library, ILAC Centre April 24th 6.30pm Ethic Minority Entrepreneurship what supports are available May 1st 6.30pm Digital Marketing Strategy Learn the tips and tricks May 8th 6.30pm Financing Your Business what you can expect from the bank May 15th 6.30pm Writing the Winning Business Plan Reserve a place: Phone 01 873 3996 Email businesslibrary@dublincity.ie
@ruairimcginley www.ruairimcginley.ie
T: 086 830 11 11
McGINLEY INDEPENDENT
Cllr. RUAIRI