Business Rates basic information
General information about Business Rates
Who has to pay Business Rates?
- Where a property is occupied, the Business Rates are usually payable by the person, partnership or company occupying it
- Where the property is empty, rates are payable by the person entitled to occupation
If the occupier and the landlord have an arrangement whereby the landlord receives rent inclusive of Business Rates, the occupier is usually still responsible for payment of Business Rates. If you are the occupier and pass the rates bill on to the landlord for payment, you remain liable for payment if the landlord does not make payment on your behalf.
Even where a business premises is empty or unoccupied, the person entitled to possession of that premises will have to pay Business Rates (these are called empty property rates).
How your Business Rates are calculated
The formula for calculating your bill is set by the UK Government.
We work out the bill by multiplying the rateable value of the property by the appropriate multiplier for the financial year which is set by the Welsh Government.
The multiplier in Wales for 2017/18 is 49.9 pence in the pound.
- A business premises with a rateable value of £15,000 will have a rates bill of £7,485.00 for the full financial year 1 April 2017 to 31 March 2018.
- That is £15,000 multiplied by £0.499
2016/17 - 48.6p
2015/16 - 48.2p
2014/15 - 47.3p
2013/14 - 46.4p
2012/13 - 45.2p
2011/12 - 42.8p
2010/11 - 40.9p
There are a number of relief schemes available which may reduce the amount of Business Rates that you have to pay.
The Welsh Government sets the multiplier each year.
The rateable value
This is an assessment of the annual rental value of a property on a set date - currently 1 April 2008. This assessment is made by the Valuation Office Agency not the local council.
Information about the rateable values for commercial properties can be found on the Valuation office agencyOpens new window website.
Can I appeal against my rateable value?
Appeals against rateable values are made to the Valuation office agencyOpens new window.
When you contact them you need to tell them the reasons why you think your rateable value is wrong.
They will compare your rateable value with similar properties in the area and consider any other reasons you′you have mentioned when they check the rateable value for you.
If you do not agree with the outcome of the discussions, you can make an appeal against the rateable value. More information about appealing against your rateable value can be found on the Valuation office agencyOpens new window website.
Thinking of starting a business or growing an existing business? For help and information contact Business Wales on 03000 603000 or visit https://businesswales.gov.wales/