Business Rates calculation

How are my Business Rates calculated?

Business Rates for non-domestic properties are calculated by combining rateable value with the national non-domestic multiplier. Every non-domestic property has a rateable value which is fixed by the Valuation Office Agency.

Each year the Government also sets a national non-domestic multiplier. This is known as the rate in the pound. This multiplier cannot rise by more than the amount of the increase in the retail prices index.

The rateable value is then multiplied by the rate in the pound to produce the annual Business Rates payable for the property.

Visit the Valuation Office Agency website for full details on calculating your Business Rates.

Where can I find information about the Business Rates payable on my property?

Visit the Business Rates section of the Business Link website to:

• Look up the rateable value of your property
• View your summary valuation
• Make an appeal against the rating list entry of your property

Revaluation

Every 5 years all non-domestic properties are subject to revaluation. The revaluation, or reassessment, of all rateable values is carried out by the Valuation Office Agency to ensure that they are kept up to date and reflect changes in the property market. The most recent revaluation is based on market rental values as at 1 April 2008 and came into effect on 1 April 2010.

Transitional arrangements are in place during each 5 year period so that the effects of any large increase or decrease in Business Rates are phased in.

Where can I find out more information about Business Rates?

Visit the Business Rates pages of the Business Link website for full details on this topic.

Page last reviewed 11 Apr 2011