About business rates
General information about business rates such as who has to pay them and how they are calculated.
Business rates are also known as national non-domestic rates (NNDR).
Have a query about your rateable value?
Did you know that you can check your property information and submit updates to your details online. Find out more and register now at: Business rates valuation account: sign in or set up (GOV.UK)
- Who has to pay business rates?
- How business rates are calculated
- How to appeal against your rateable value
- Additional information to accompany 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, business rates have to be paid (these are called empty property rates).
The formula for calculating your bill is set by the UK Government.
Business rate = rateable value of the property x multiplier for financial year
The rateable value - an assessment of the annual rental value of a property on a set date (currently 1 April 2021). This assessment is made by the Valuation Office Agency not the local council.
The multiplier - set by the Welsh Government each year.
The multiplier in Wales for 2023/24 is 53.5 pence in the pound.
Previous years' multiplier:
2022/23 - 53.5p
2021/22 - 53.5p
2020/21 - 53.5p
2019/20 - 52.6p
A business premises with a rateable value of £15,000 will have a rates bill of £8,025 for the full financial year 1 April 2023 to 31 March 2024:
- £15,000 x £0.535 = £8,025
There are a number of relief schemes available which may reduce the amount of business rates that you have to pay.
Appeals against rateable values should be made to the Valuation Office Agency: Contact VOA (GOV.UK).
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 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 Agency website.