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How Business Rates Are Worked Out

Apart from properties that are exempt from business rates, each non-domestic property has a rateable value which is set by officers of the Valuation Office Agency (VOA), an agency of Her Majesty's Revenue and Customs. They draw up and maintain a full list of all rateable values.

The rateable value of your property is shown on the front of the bill. This broadly represents the yearly rent the property could have been let for on the open market on a particular date. The latest valuation was effective from April 2017.

The valuation officer may alter the value if circumstances change. 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. 

For any information regarding valuation including grounds on which you can challenge your valuation can be found on the VOA website.

Please note that even if you have appealed against your rateable value, you must still pay your rates bill. You cannot withhold payment while you wait for the results of your appeal.

The local authority works out the business rates bill by multiplying the rateable value of the property by a "multiplier"; set every year by the government.

Last modified: 21 December 2018
  • National Non-Domestic Rating Multiplier

    There are in fact two multipliers; the standard non-domestic rating multiplier and the small business non-domestic rating multiplier.

  • Transitional Arrangements

    Property values normally change a good deal between each revaluation.

  • Revaluation

    All rateable values are generally reassessed every five years at a general revaluation to ensure bills paid by any one ratepayer reflect changes over time in the value of their property relative to others.