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Business rates

Introduction

Business Rates or National Non-Domestic Rates are the means by which businesses and others who occupy non-domestic property make a contribution towards the cost of local services. The Rates are collected on a local basis by the Council and then paid into the Non-Domestic Rating Pool held by Central Government. Monies are then redistributed to Councils by way of a prescribed formula.

Each business property has a rateable value, which is set by the Valuation Officers of the Valuation Office Agency. The rateable value broadly represents the yearly rent the property could have been let for on the open market on a particular valuation date, based on certain assumptions, including the state of repair of the property. If you disagree with the rateable value you may appeal to the Valuation Officer at the Valuation Office Agency: Business rates|.

Business Rates - check your rateable value

The Council uses the rateable value provided by the Valuation Office Agency (VOA) to work out your business rates bill. You can check your rateable value and compare it with others on the VOA website: Business Rates Valuations|. You can also get in touch if you need to let them know of any issues.

The business rate is set annually by the Government in the form of a poundage (The Non-Domestic Rating Multiplier) which for 2009/10 has been set at 48.5 pence per pound rateable value (0.485) and 48.1 pence per pound rateable value for qualifying small businesses (0.481) (The Small Business Non-Domestic Rating Multiplier).

When the poundage is multiplied by the rateable value, this produces the annual rate bill for a property. Your business rates bill shows the rateable value which applies to your property.

Reliefs and Exemptions are available in certain circumstances.

For further details please refer to Business rates: Frequently asked questions (FAQ’s).

Further information regarding the valuation process, starting a business, running a business from home, reliefs available etc, can be found at Business Link: Business rates|.

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