Business rates calculations
All non-domestic property have a rateable value which is set by the valuation officers of the Valuation Office Agency (VOA), an agency of HM Revenue and Customs. They draw up and maintain all rateable values and compile them into a rating list, the national non-domestic rating list is available to be viewed on their website at gov.uk.
The rateable value of your property is shown on the front of your bill. This broadly represents the annual rent the property could have been let for on the open market on a particular date. For the 2017 revaluation that came into effect on 1 April 2017, this date was set as 1 April 2015. For the 2023 revaluation on 1 April 2023, this date was set as 1 April 2021.
The local authority calculates the business rates bill by multiplying the rateable value of the property by the appropriate multiplier. There are two multipliers; the standard non-domestic rating multiplier and the small business non-domestic rating multiplier. The standard multiplier is used to calculate charges on properties with a rateable value of £51,000 and above. The small multiplier is used to calculate the charges for properties with a rateable value below £51,000.
The government sets the multipliers for each financial year for the whole of England according to formulae set by legislation. Generally, the multipliers increase in line with inflation according to the Retail Price Index in September of the preceding year. Although for the 2021, 2022 and 2023 financial years, government have frozen the multiplier
|Small: 49.9p||Small: 49.9p||Small: 49.9p||Small: 49.9p|
|Standard: 51.2p||Standard: 51.2p||Standard: 51.2p||Standard: 51.2p|
Example of the basic charge calculation
Please find below an example of how to calculate the basic business rates charge.
Small business non-domestic charge.
Rateable Value £15,000 x Multiplier 0.499 = Annual Charge £7,485.00
National non-domestic Charge
Rateable Value £100,000 x Multiplier 0.512 = Annual Charge £51,200.00
If you have questions about the way your rates bill has been calculated, please contact the business rates team using the below details.
Telephone: 01454 867700 (10am to 4pm)
Email: firstname.lastname@example.orgIs there anything wrong with this page?
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