Business Rates - what do I pay?
To find out what you should pay we multiply the rateable value of your business property by the rate poundage to get the annual charge.
The rate poundage in 2012/2013 is 45.8 pence in the pound. The 2013/14 rate (from 1 April 2013) is 47.1 pence in the pound.
The rate poundage in 2012/2013 for businesses receiving Small Business Rate Relief is 45.0 pence in the pound. The 2013/14 rate (from 1 April 2013) is 46.2 pence in the pound.
If you are only in occupation for part of the year we calculate the exact portion that you owe by splitting the annual charge to a daily rate, and multiplying this by the number of days you are in occupation or are entitled to occupy the property.
Annual Charge = £5,000
Occupation started 01/09/11
Number of days 01/09/11 to 31/03/12 = 212
5,000 x 212 = 2,904.10
(actual charge for period of occupation)
How to find out the rateable value of your business property
Contact the Valuation Officer at the following address.
The District Valuer
Valuation Office Agency
2nd floor, 1 Francis Grove
Telephone: 03000 501 501
The Valuation Office Agency website has an online facility for determining rateable values.
This website will show a Summary Valuation for the majority of properties in the Borough. If you have any queries with regard to the valuation of a property you should contact the Valuation Office directly.
The calculation of Rateable Values is complex and the methods used will vary from property to property.
More information about the factors involved and other general useful information is available at GOV.UK.
Reporting changes to your circumstances
If there are any changes to your premises or the type of business you run, you should contact the Valuation Office Agency, to ensure you continue to pay the right level of Business Rates.
Paying your Business Rates
There are many different ways to pay your Business Rates. Find out more about payment options.