Information on business rates
Scam email messages
We have been alerted that scam emails are currently in circulation that claim to be from the Valuation Office Agency that make incorrect statements about reductions in a property’s ‘rateable value’.
You are strongly advised not to respond or click on any links that are included in this type of email and are advised to contact the Valuation Office Agency.
Business rates - non-domestic rates
Central government sets the amount of business rates you must pay each financial year. It goes from the 1 April to the 31 March. You can find more information on GOV.UK. There is also a guide to business rates available to download.
From 1 April 2013 all authorities keep a proportion of the business rates collected. This provides a financial incentive for us to improve the local economy and create a favourable environment for growth.
We calculate your business rates charge by multiplying the rateable value of your property by the appropriate business rates ‘multiplier’.
You can get help to estimate your business rates on GOV.UK.
Access further information on business rates relief.
Rateable value
All non-domestic properties are given a rateable value by the Valuation Office Agency (VOA). There is a revaluation of all business rates. This is usually every 5 years to reflect changes in the property market. Find out more about the 2023 revaluation.
The rateable value of the property is based on the yearly rent the property could have been let for on the open market on a particular date. From 1 April 2023, the rateable values are based on the valuation date of 1 April 2021.
The ratepayer and certain others who have an interest in the property can appeal against the value shown in the list if they believe it is wrong.
The business rates multiplier
Each year the government sets a multiplier. It represents the number of pence in each pound by which the rateable value is multiplied to arrive at the amount of business rates payable for the year.
The government reviews the multiplier each year to reflect changes in inflation.
The small business rates multiplier is used for most occupied properties from the 1 April 2023 with a rateable value below £51,000. For all other properties the standard multiplier is used.
| Value | Multiplier |
|---|---|
| Standard rate | 51.29 in the £ |
| Small business rate | 49.9 in the £ |
Transitional rate relief
All rateable values are reassessed every 5 years at a general revaluation. On 1 April 2013, the new rating list came into effect and your bill will be based on this rateable value.
Property values normally change a good deal between each revaluation. Transitional relief arrangements help to phase-in the effects of these changes on ratepayers' bills. Large rises are restricted. This is so businesses are not suddenly asked to pay much larger amounts.
We will automatically include transitional relief when we calculate your bill. It is shown on the bill as ‘Transitional Adjustment’.
Transitional relief limits the percentage your business rates bill can be increased each year following revaluation. The transitional relief will apply each year until the full amount is due and your bill reaches what your full bill should be. Or it can be if there is another revaluation.
More information on transitional rate relief is available on GOV.UK.