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.
Due to the lateness of the chancellor’s budget speech, and the government’s recent announcement for discounts to Business Rates, we have been unable to reflect these changes announced to Business Rates in the bills dated 5 March 2020.
We do not yet have details of these schemes, which include retail relief, pub relief, small business rate relief grant. As soon as government guidance is published, full details of how to apply for relief will be shown on this website. We currently expect this information to be available week commencing 23 March.
If you are likely to qualify for 100% relief, we will not be calling your April Direct Debit for Business Rates - even if you have not yet received your new bill by that time.
Local Authorities do not yet have details of these schemes. This includes retail relief, pub relief, small business rate relief grant. As soon as Government guidance is published, full details of how to apply for relief will be shown on this website. We currently expect this information to be available week commencing 23rd March.
As the Government’s announcement for Business Rate discounts came after the annual bills were sent out on 16 March, the proposed new grants and discounts are not shown on these bills. We are currently reviewing guidance and will provide an update shortly.