Information about business rates
Find out about the changes to business rates.
Business Rates are calculated by multiplying the rateable value (RV) of the property by the multiplier or 'poundage', which the Government sets annually from 1 April for the whole of England. The rateable value of a property is set by the Valuation Office Agency (VOA). The current multipliers are shown on the front of your bill.
Business rates revaluation 2017
The VOA regularly reassess and update the rateable values of all business properties usually every five years. This is called a Revaluation and a new list, which came in on 1 April 2017.
Changes to business rates
In the Autumn Statement 2016, the Chancellor announced a statement affecting Business Rates in 2017/18. The changes from 1 April 2017 are:
- Changes to small business rate relief - From 1 April 2017 for businesses with a rateable value of £12,000 or less, 100% relief may be granted. This means that qualifying ratepayers with rateable values of £12,000 or less will pay no rates at all for the period.
- Rate payers with rateable values between £12,000 and not more than £15,000 will receive tapered relief from 100% - 0%. Occupied properties which have an RV of less than 51,000 will be calculated using the lower multiplier.
- The Government has introduced relief for local newspapers providing a discount of up to £1500 per year for 2 years from 1 April 2017. This means local newspapers who occupy office space can be given one discount per newspaper title per property up to state aid limits. This is a discretionary discount administered by the local authority.
- Rural rate relief will be doubled to 100% from 1 April 2017 for the following qualifying properties: only Post Office or general store in a village (providing the rateable value is no more than £8500); for the only public house and/ or petrol filling station in a village (providing the rateable value is no more than £12,500).
In addition in the spring budget 2017 the Chancellor announced further support for businesses with the following discretionary reliefs;
- Supporting Rural rate relief - This relief will help those ratepayers who as a result of the change in their rateable value at the revaluation are losing some or all of their small business relief or rural rate relief and as such are facing large increases in their bills. The increase per year for these businesses will be the greater of £600 or the matching cap on increases for small properties in the transitional relief scheme.
- Pub relief - for pubs which have a rateable value of below £100,000, will receive a £1000 discount on their bills.
- Revaluation relief - an enhanced hardship fund for those businesses facing the steepest rises in their rates bills
If you are paying by Direct Debit and you are concerned about your monthly instalments please contact our Business Rates department directly by email at firstname.lastname@example.org or by telephone 01799 510349 for advice.
You can find and view your property details on the Business premises and business rates section of the GOV.UK site. An appeal on your 2017 rateable value may not be necessary until you have completed check and challenge.