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How much do I have to pay?

How are Business Rates calculated?

Each Business Rates charge depends on two things, a Rateable Value and a Multiplier.

The Business Rate charge is simply the rateable value (RV), multiplied by the rate in the £ which is set nationally by central government each year.

  • For example: £20,000 x £0.497 (2016/17) = £9,940.00

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What is a Rateable Value (RV) and the Valuation Office Agency (VOA)?

The rateable value is determined by the Valuation Office Agency (VOA) and (for the current 2010 valuation list) is broadly set according to the annual rental value the property could have been let for on the open market as at 1st April 2008.

You can contact the valuation office agency to check and compare your rateable value and, if you think your rateable value is too high, you can seek advice about appealing against it.

You can appeal yourself, possibly after getting guidance from the Valuation Office Agency (VOA) - on the gov.uk website. However, ratepayers who do wish to be represented may choose to contact the Royal Institution of Chartered Surveyors (RICS) website or the Institute of Revenues, Rating and Valuation (IRRV) website. Members of both organisations are qualified and 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, if necessary, seek further advice before entering into any contract.

Alternatively, you can contact the VOA on 03000 501 501 to request the forms and obtain advice about how to complete them.

Please note: While an appeal is outstanding with the Valuation Office Agency you must pay as outlined in your current demand. Changes can only be made to your account once we have been notified by the Valuation Office Agency. Failure to adhere to this may result in recovery action being taken.

Current Multipliers - Rate in the Pound (£)

There are two multipliers for the 2017/18 financial year (£0.479 and £0.466).

The standard multiplier for 2017/18 of £0.479 is for all properties with an RV of £51,000 or above or if the liable party is a registered charity or for Empty properties.

Generally all individual rate payers occupying premises with an RV below £51,000 will have their liability calculated using a lower multiplier of £0.466.

To explain how we calculate your bill using the Rateable Value and multiplier there is a short video on the Valuation Office Agency website.

If, for example, you have an RV of £10,000, and your multiplier is £0.484 (2016/17), your basic charge for the year (before any reductions) would be £4,840.00 (£10,000 x £0.484). Current and previous year multipliers are shown in the table below.

Current rate in the pound figures from 1st April 2017
Financial yearRate in the Pound for RVs of £51,000 and overSmall Business Rate in the Pound
2017/18 £0.479 £0.466
Previous rate in the pound figures from 1st April 2005
Financial yearRate in the Pound for RVs of £18,000 and overSmall Business Rate in the Pound
2016/17 £0.497 £0.484
2015/16 £0.493 £0.480
2014/15 £0.482 £0.471
2013/14 £0.471 £0.462
2012/13 £0.458 £0.450
2011/12 £0.433 £0.426
2010/11 £0.414 £0.407
2009/10 £0.485 £0.481
2008/09 £0.462 £0.458
2007/08 £0.444 £0.441
2006/07 £0.433 £0.426
2005/06 £0.422 £0.415

The full charge may be subject to an adjustment due to a relief, an exemption or transitional arrangements.

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Revaluation

All rateable values are generally reassessed every five years as part of a general revaluation to ensure bills paid by any one ratepayer reflect changes over time in the value of their property relative to others. The proposed revaluation that was due in April 2015 has been postponed until April 2017 and every five years from then.

Following revaluation, properties may face an increase or decrease in their bill. To limit the effects of this the government introduced a scheme to reduce the impact of these changes and this scheme is called Transitional Relief.

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