How are Business Rates calculated?
Business Rates are a tax that we collect on behalf of central Government. Money collected from Business Rates is shared between central Government (50%) and local government (50%). The local government share contributes towards the cost of services provided by the County and the Borough Council.
Business Rates are charged on all assessments that are not used for domestic purposes (for example shops, offices, factories, warehouses, car parking spaces and advertising sites). The annual charge is calculated by multiplying the property's rateable value, which is set by the Valuation Office Agency (VOA), by a rate in the pound set annually by central Government.
The rateable value of a property broadly represents the yearly rent the property could have been let for on the open market on a particular date. The current rateable value is shown on the front of your bill. You can check the rateable value of your property on the Valuation Office Agency (VOA) website www.gov.uk/voa. If you have any queries about the rateable value you can contact the VOA. You can also submit a formal appeal online if you believe the rateable value is incorrect.
There will be a different appeals process for the 2017 rateable values. You can click, find and review your rateable value on the VOA's website. If you have reason to be believe that your 2017 rateable value is not correct, follow the instructions provided on the website. You will need to do the following (not available until 1 April 2017):
- CHECK - review and confirm the facts about your property held by the VOA
- CHALLENGE - once the facts are established, explain why you believe your valuation is wrong.
An appeal on your 2017 rateable value is not possible, and may not be necessary, until you have completed CHECK and CHALLENGE.
Rate in the £ (multiplier)
There are two Business Rate multipliers which may be used to calculate Business Rates which are set annually by central Government. The Business Rates for most occupier properties with a rateable value of less than £51,000 are calculated using the small business rating multiplier. Properties with a higher rateable value are calculated using the standard rating multiplier. Your bill will show which multiplier has been used to work out your charge.
General explanatory notes
We are required to provide explanatory notes as part of your bill PDF, 283.64 KB and we have chosen to publish this on our website. If you would like a hard copy of the information you must ask for this in writing to us.
Using rating advisers for appeals
You do not have to be represented by a rating adviser to challenge your rateable value and you can make an appeal yourself free of charge.
If you do decide you want to be represented please note that members of the Royal Institute of Chartered Surveyors (RICS www.rics.org) and the Institute of Revenues Rating and Valuation (IRRV http://www.irrv.net/homenew/index.php) are qualified and are regulated by rules of professional conduct designed to protect the public from misconduct. Before you employ a rating adviser you should check that they have the necessary knowledge and expertise as well as appropriate indemnity insurance. Take great care and seek further advice before entering into any contract.
Since we have many Freedom of Information requests of a similar nature during the course of the year, we have created standard reports which are updated quarterly