Your business rates bill can be confusing. There is an example of a bill below and we have put a key underneath that answers some of the questions that we get asked a lot:
- The names of the persons who are liable for business rates. View information on who is liable for Business rates.
- The address the bill has been issued to. In most cases this is also the address that the bill is for. But, if the bill is for a different address the contact address you have provided will show here. In these instances the business address will show below.
- This is the date the bill has been issued. Business rates bills are posted 2nd class.
- This is your unique business rates account number. If you need to contact us, or pay your bill you will require this number. Your Rateable Value (RV) is your open market rental value on 1 April 2021, provided by the Valuation Office Agency (VOA). Visit the VOA if you wish to challenge this value.
- This is the description the VOA have given your property.
- The online key is a unique code on each bill that gives you access to your My Business rates account online.
- The barcode will be required if you wish to pay your bill at a pay point or post office outlet.
- The address for which the business rates bill is for, if different from the address above in point 2.
- These are two business rates multiplier figures set by central government, the standard non-domestic rating multiplier and the small business non-domestic rating multiplier. The amount of your RV will determine which multiplier we use.
- The base liability is the chargeable amount shown on your bill for the previous year.
- The appropriate fraction is made up of two parts. The first is the rate of inflation each year. In this example it is 3%. The second depends on whether your business rates are increasing/decreasing as a result of the 2023 revaluation. If so, the bill may include transitional relief so that increases to your bill, due to the revaluation, are phased in gradually.
These figures are set by central government, find more information by visiting the GOV.UK website.
- The figure is calculated by multiplying the Base Liability (point 10) by the appropriate fraction (point 11)
- This is a supplement for properties with a rateable value in excess of £51,000. This is because the transitional arrangement calculations are made using the small business multiplier rather than the higher standard multiplier. The figure is calculated by multiplying the rateable value by the difference between the two multipliers shown in point 9. In this example £214,000 x 0.013.
- This is the charge for the period, multiplying your RV by the applicable multiplier.
- Transitional relief or surcharge limits how much your bill can change each year as a result of a revaluation. This means changes to your bill are phased in gradually, if you’re eligible. Visit the GOV.UK website for further information about business rates transitional relief.
- At the date the bill was issued this is the total payments you have made towards your bill.
- The amount of the charge you have left to pay by 31 March. This is your overall account balance which is the total amount owing for all financial years.
- Your payment method, instalment dates and the amounts due. If it states Direct Debit, instalments will be taken automatically from your bank account. At Annual billing it will also show here any due amounts that are immediately payable from the previous bill.
Last updated: 07/03/2023 07:47