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About business rates bills

How we calculate business rates

We calculate business rates by multiplying the rateable value of the property by the appropriate rating multiplier.

Rateable value of your property

Each non-domestic property has a rateable value. This is set by the valuation officers of the Valuation Office Agency (VOA). It draws up and maintains a full list of all rateable values. For more information, please visit the VOA website.

You'll find the rateable value of your property on the front of your bill. It broadly represents the yearly rent the property could make on the open market on a particular date. The latest revaluation is in effect from 1 April 2023.

Reporting changes

The VOA may alter the value if the circumstances of the property have changed.

It is the ratepayer's responsibility (and certain others with an interest in the property) to report any changes at a property. Please notify the VOA as soon as possible so it can update your rates bill to reflect these changes.

Appeals

You can appeal against the value shown if you believe it is wrong. There is no cost to make an appeal.

While your appeal is pending you must continue to pay your business rates as normal (based on your current bill). You cannot withhold payment. Any non-payment will result in further enforcement action. If the VOA decides to reduce the rateable value, then we will refund any overpayment.

We are a separate entity to the VOA and do not have any powers of discretion over decisions it has made.

More information on appeals is available on the Government website.

Rating advisers

You may wish to get specialist advice about your appeal from a specialist rating adviser.

It is recommended you use members of the Royal Institution of Chartered Surveyors (RICS) and the Institute of Revenues Rating and Valuation (IRRV) These advisers are regulated by rules of professional conduct.

Before you use a rating adviser, you should check that they have the knowledge, expertise and indemnity insurance.

Revaluations

All rateable values are reassessed at revaluations. The next revaluation is due to take place in April 2026. The VOA may contact you to provide information about your rent or lease to support this process. You can find out more about revaluations on the Government website.

Transitional arrangements

At a revaluation, some ratepayers will see their bill go down or stay the same, but some may see an increase.

Transitional relief limits how much your bill can change each year as a result of a business rates revaluation. Transitional relief is automatically applied to bills.

National non-domestic rating multiplier

The normal multiplier for 2024-25 is 54.6p 
The small business multiplier for 2024-2025 is 49.9p

Page Last Updated: Monday, 18 March 2024 at 04:50 PM