Business Rates 2016-2017
Business rates (non-domestic rates) are charged on all businesses according to the rateable value (RV) of the property. Business rates are how users of non-domestic property contribute towards the cost of providing council services in the area, but rates are not a direct payment for services received.
Who has to pay the business rates?
The occupier of a business normally pays these rates; usually this is the owner-occupier or leaseholder. If the property is empty, the owner or leaseholder has to pay them.
How much will you have to pay?
Every business, unless it is exempt, has a RV set by the government’s Valuation Office Agency. The Council calculates your rate bill by multiplying your RV by the multiplier set each year by the government, in line with inflation.
For 2016-2017, the multiplier is set at 49.7. So if your RV is £20,000, the Council will multiply this by 49.7p and the bill for the year would be £9,940. The multiplier is 48.4 for properties with a RV under £18,000.
Properties with a rateable value of over £18,000 attract a higher multiplier. For a full list of the current multipliers we use visit the Valuation Office.
You could be entitled to Business rate reductions, relief and exemptions off your business rates.
Rateable value & appeals
As well as setting the RV of businesses, the Valuations Office Agency also revaluates them, usually every five years, with the next revaluation due in 2017.
You can check business rates valuations on the Valuation Office website. The value of a property may change if the circumstances of the property have changed. The ratepayer and others with an interest in the property may also propose a change in the value.
If you think your rateable value is wrong you can appeal it online through the Valuation Office. Alternatively you can call your local Valuation Office in Redhill on 03000 501 501.
Rate reductions, relief and exemptions
Rate reductions, relief or exemptions may be available to your business depending on the circumstances. Visit Business rate reductions, relief and exemptions for more details.