Business rates are charged on most non-domestic properties and help pay for local services.
We act as the collection agent for the Government. The money is partly pooled at central government level and redistributed, and partly retained locally.
You’ll probably have to pay business rates if you use a building or part of a building for non-domestic purposes. These include:
- holiday rental homes or guest houses
We work out your business rates bill by multiplying the rateable value of the property by one of two multipliers: standard and small business. The first is higher to pay for small business rate relief. The Government sets the multipliers for each financial year.
Payment of business rate bills is automatically set on a ten-monthly cycle. But you can now pay in 12 monthly instalments. To take up this offer, contact us as soon as possible.
All rateable values are reassessed at a general revaluation. The 2017 revaluation took effect from 1 April. While the revaluation won't increase the amount of rates collected nationally, within the overall picture, more than seven out of ten ratepayers will receive a reduction or no change in their bill and some ratepayers will see increases.
For those facing big rises, the Government has put in place a £3.6 billion transitional relief scheme to limit and phase in changes in rate bills. To help pay for the limits on increases in bills, there also have to be limits on reductions in bills.
Under the transitional scheme, limits continue to apply to yearly increases and decreases until the full amount is due.
The scheme applies only to the bill based on a property at the time of the revaluation.
Changes to your bill as a result of other reasons, such as changes to the amount of small business rate relief, aren't covered by the transitional arrangements, which are applied automatically and shown on the front of your bill.
Rate relief is available in certain cases.
More information is available from us or at GOV.UK