Business rates

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Business rates

General information on how business rates are calculated and revaluations.

  1. What are business rates?
  2. Roles and responsibilities.
  3. What is a rateable value?
  4. What is revaluation?
  5. How can I find out more?
  6. Business rates guidance notes 2017/18
  7. How to pay

 

1. What are business rates?

Business Rates is a local tax that is paid by the occupiers of all non-domestic/business property, in the same way that council tax is a tax on domestic property.

Business Rates are charged on most business properties such as shops, offices, pubs, warehouses and factories. However, the property doesn't have to be used for a business - if it is used for purposes which are not domestic it is likely to be rateable. We will send you a business rates bill each year.

2. Roles and responsibilities

The VOA sets the rateable value of business premises by using property details such as rental information.

We use the rateable value and the business rates multiplier (set by central government) to calculate your business rates bill.

 

Small business multiplierStandard multiplier
2012/1345.0p45.8p
2013/1446.2p47.1p
2014/1547.1p48.2p
2015/1648.0p49.3p
2016/1748.4p49.7p
2017/1846.6p47.9p

3. What is the 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 for 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: www.gov.uk/voa/valuation

4. What is revaluation?

The VOA regularly reassesses and updates the rateable values of all business properties, usually every five years. This is called 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.

5. How can I find out more?

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

6. Business rates explanatory notes

From 1st April 2017, authorities are no longer required to provide individual copies of explanatory notes when bills are issued. Instead, authorities will be required to publish these online. pdf icon Business rates explanatory notes 2017/18 [87kb]

 

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