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Understanding your bill

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:

  1. The name(s) of the persons/company who are liable for business rates. View information on who is liable for Business rates.
  2. The contact address for the business rates payer.
  3. This is the date the bill has been issued. Business rates bills are posted second class, or if you have opted for e-billing, they will be sent by email. 
  4. 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.
  5. This is the description the VOA have given your property.
  6. The online key is a unique code on each bill that gives you access to your My Business rates account online.
  7. Is the property address which the business rates bill is for. 

  8. 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 small multiplier is used for properties with an RV of less than £51,000. 
  9. The base liability is the chargeable amount shown on your bill for the previous year.
  10. The appropriate fraction is made up of two parts. The first is the rate of inflation each year. The second depends on whether your business rates are increasing/decreasing as a result of the 2023 revaluation. Transitional relief is applied to limit the amount the bill is increased per year. 

    These figures are set by central government, find more information by visiting the GOV.UK website.
  11. The figure is calculated by multiplying the Base Liability (point 9) by the appropriate fraction (point 10)
  12. If applicable, 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 8.
  13. This is the charge for the period, multiplying your RV by the applicable multiplier.
  14. Transitional relief 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.
  15. Any further Business Rates Relief will be detailed here, alongside the total payments you have made to date towards your bill.
  16. The amount of the charge you have left to pay by 31 March. This includes any amount owing for previous financial years. 
  17. Your payment method, instalment dates and the amounts due. If you pay by Direct Debit, this will be taken automatically from your bank account. If you are not set up on Direct Debit you must pay by an alternative method. Paying your business rates.

Please note: The barcode if you wish to pay your bill at a pay point or post office outlet is now detailed on the back of the bill. 

Last updated: 09/04/2024 13:40

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