How do you calculate my business rates bill?
The business rate calculation is shown on your annual bill.
Your rate bill is calculated by multiplying the ratable value of your property by the national multiplier. The current multiplier for properties with a ratable value of under £18,000 is £0.484 for properties with a ratable value of £18,000 or over the multiplier is £0.497.
The rateable value is based on an estimate of the rent that your property could normally expect to fetch on the open market on a fixed date. This date is known as the Antecedent Valuation Date. To find out the rateable value of your property visit www.voa.gov.uk
Normally the Valuation Officer is legally required to revalue all rateable properties every 5 years. However, the revaluation scheduled for 2015 has been postponed until 2017. This means that the Antecedent Valuation Date used for 2015 business rates is 1 April 2008.