Business rates calculations and charges

The amount you pay depends upon:

  • The rateable value of the business property (given by the Valuation Office Agency)
  • The  national non domestic rating multiplier (set by central government)
  • Any eligible reliefs

Rateable value

The rateable value is assessed by the Valuation Office Agency, which is an agency of HM Revenue and Customs.

A property's rateable value is an assessment of the annual rent the property would rent for if it were available to let on the open market at a fixed valuation date.

  • Until 31 March 2017, the rateable values will be based on a valuation date of 1 April 2008
  • From 1 April 2017, the rateable values will be based on the valuation date of 1 April 2015

If you think your rateable value is incorrect, you can find and view your property details here:

What is a revaluation?

The VOA regularly reassess and update the rateable values of all business properties usually every five years. This is called a revaluation. This is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market.

Revaluation does not raise extra revenue overall.

How can I find out more?

For more information on the 2017 revaluation, rateable values, and business rates go to www.gov.uk/voa/revaluation .

You can also estimate your business rates bill, including any small business rate relief the local council may apply.

National Non-Domestic Rating Multiplier

We work out a business rates bill by multiplying the rateable value of the property by the multiplier or 'poundage' which the Government sets.  There are currently two multipliers, the standard non domestic rating multiplier and the small non domestic rating multiplier

The Government normally changes the multiplier every year to move in line with inflation. By law, the multiplier cannot go up by more than the rate of inflation, except in the year of a revaluation when it is set at a level which will keep the total amount raised in rates after the revaluation the same as before, plus inflation for that year. The current multiplier will be shown on the front of your bill.

For 2017/18 the multipliers are as follows:

Small business multiplier 46.6p payable by properties eligible to receive small business rate relief.

Large business multiplier 47.9p payable by all properties, except those that qualify for small business rate relief.

Unoccupied Property Rating

There will be no business rates to pay for the first three months that a property is empty. After that, an empty property rate of 100% will be payable.  Industrial buildings can receive a six month void period and then will incur the 100% empty property charge. Please contact us for more details.

PLEASE NOTE: All properties with rateable values of less than £2,600 will not be liable for empty rates.

Rating advisers

Ratepayers do not have to be represented in discussions about their rateable value or their rates bill. Appeals against rateable values can be made free of charge. However, ratepayers who do wish to be represented should be aware that members of the Royal Institution of Chartered Surveyors (RICS) website and the Institute of Revenues Rating and Valuation (IRRV) website are qualified and are regulated by rules of professional conduct designed to protect the public from misconduct.

Before you employ a rating adviser, you should check that they have the necessary knowledge and expertise, as well as appropriate indemnity insurance. Take great care and, if necessary, seek further advice before entering into any contract.

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