Business rates

Each commercial property, unless it is specifically exempt from rating, will be given a rateable value by the Valuation Office Agency. The rateable value broadly represents the open market annual rental value at a certain date, the valuation date.

The rateable value is multiplied by the rate in the pound, known as the multiplier, a figure set by Central Government each year.

There are two multipliers - the standard non-domestic rating multiplier which is 51.2p in the pound for 2020-21 and which is used to calculate bills for properties with a rateable value of £51,000 or more.

There is also a small business non-domestic rating multiplier which is 49.9p in the pound for 2020-21. This is used to calculate bills for properties with a rateable value of less than £51,000. The final bill may be subject to the government's transition scheme. This works by comparing the amount of business rates that were paid in the previous year with the amount due to be paid in the current year and limits the percentage of increases and decreases. If you are subject to the transitional arrangements, details will be shown on your bill - you do not have to apply.

If you think your rateable value is wrong, you can apply to the Valuation Office Agency to reduce it. To do this, you will need to make a proposal to alter the rating list.

For further details about how the appeal process works and the grounds on which appeals may be made, visit the Valuation Office Agency website.

Last updated Tuesday, 10th March 2020

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