1. How your Business Rates are worked out
Your annual business rates bill is calculated and collected by us.
We multiply the rateable value of an individual property, which is set by the Valuation Office Agency by a 'multiplier' (the national non-domestic multiplier) set by central government. It is set for the whole of England and is effective from 1 April each year. The multiplier represents the number of pence in each pound of the rateable value that will be payable in business rates before any relief or discounts are applied. The calculation gives the amount of rates payable for the year.
The government reviews the multiplier each year to reflect changes in inflation. By law, the multiplier cannot increase or decrease by more than the rate of inflation, except in the year of a revaluation. In that year it is set at a level which will keep the total amount raised in rates after the revaluation the same as before, plus inflation for that year. There is a revaluation every three years – the last one was in April 2017.
Which agency does what?
The Valuation Office Agency sets the rateable value on which your rates are based. The government sets the multiplier and makes national rules about business rates. We bill and collects business rates on behalf of central government.
Estimate your bill
You can estimate your business rates bill using the estimator on the GOV.UK website. Any figures that the estimator provides are only estimates. Your exact liability will be on your Business Rates bill from us.