How Business Rates are Calculated
Business rates are charged on most non-domestic properties, like: shops, offices, pubs, warehouses, factories, holiday rental homes or guest houses. You’ll probably have to pay business rates if you use a building or part of a building for non-domestic purposes.
Business rates are worked out based on your property’s ‘rateable value’.
This is its open market rental value on 1st April 2015, based on an estimate by the Valuation Office Agency (VOA).
You can estimate your business rates by multiplying the rateable value by the correct ‘multiplier’ (an amount set by central government)..
Your bill will be reduced if your property’s eligible for business rates relief.
If your bill is due to increase or decrease by a large amount in comparison to the pervious year it maybe restricted by transitional relief.