I'm in p'ship with my husband. We own a small holding with dwelling in our joint names on which there is a small business unit where we run our micro food manufacturing business. This was set up in 2014, has been seperately assessed for business rates since then and we got SBRR. The small holding is micro agricultural and the ag business (breaks even) is included in the partnership.
Within one of the ag barns we have 5 stables for our own private use - no business - planning restrictions would make it virtually impossible to run any viable equestrian business. The stables were constructed in 2012. We have just received a non domestic rates demand for the stables - rateable value is under sbrr level but over £2899. The council have now taken away our sbrr for our business unit (valued under £2899)and won't give sbrr for the stables treating them as a second business premises, on the basis that because we are a partnership for the business and joint owners of the stables we are the same rate payer. Our rates bill for both have been backdated to 2017.
We can solve the issue going forward by incorporating the business or going llp? but any views on our treatment for tax purposes as a partnership and individuals? We of course have seperate UTRs for the partnership and as individuals. Our business has been severally effected by Covid 19 as we rely on the tourist industry and smaller shops. We received the £10k grant but are concerned now that because we have retrospectively lost sbrr on our business property it will need to be repaid along with the huge rates demand.
apologies for length. Thanks in advance.