Guide to Business Rates
This guide explains what Business Rates are and how we calculate the amount you pay.
- How much you pay
- How to pay
- Business Rates Supplements
- Change in circumstances
- Appeal a decision
- Business Rates Explanatory Notes
- More information
Business Rates is a local tax paid by the occupiers of all non-domestic or business properties. Business Rates are charged on most business properties such as:
If a building is used for non-domestic purposes it is likely to be rateable, even if it is not used for a business.
We send out an annual bill every March, which is payable the following tax year.
How the money is used
Some of the money collected from Business Rates is paid to the Government, who then share a portion between each Council.
We also keep some of the money raised, to pay towards providing Council services. These include social services for adults and children, arts, leisure and sports services. From 2020 onwards we will keep all the money raised from Business Rates.
This Guide to Council Tax and Business Rates (pdf, 1.5 MB) explains how the Council spends its funds.
Business Rates are worked out based on the rateable value of your property. This is the price the property could have been rented out for on 1 April 2015, which is set by the Valuation Office Agency (VOA). The rateable value is then multiplied by a 'multiplier' amount, which is set by the Government, to give your annual rate.
- Standard amount: 50.4p per pound
- Small Business Rate Relief amount: 49.1p per pound
- Standard amount: 51.2p per pound
- Small Business Rate Relief amount: 49.9p per pound
Part year occupation
If you occupy a property for part of the year, your rate will be calculated on a pro rata basis as follows:
- Full annual rate, multiplied by number of days occupied, divided by the number of days in that year (365, or 366 if it is a leap year).
You may be entitled to a reduction on your annual Business Rate. You will need to apply to be considered for any type of reduction:
Transitional relief is designed to reduce the impact of any significant changes in the rateable value after a revaluation, whether the change is up or down. If your business is entitled to transitional relief, the reduction will be applied to your bill automatically.
You can pay your Business Rates in 10 or 12 monthly instalments, or on an annual or quarterly basis. You can set up a direct debit or choose from a number of other payment options.
A Business Rate Supplement (BRS) is an increased amount which is added on to your annual rate, to help pay toward projects to develop the economy in your area. The Greater London Authority (GLA) decides when a BRS should apply and the amount payable.
The maximum supplement which can be added is 2p per pound of the property's rateable value.
You will be charged a supplement if your property has a rateable value of £70,000 or more, within Greater London.
Current BRS payable
You must let us know if you change your business address by moving within or out of the borough.
If there are any changes to your premises or the type of business you run, you should contact the VOA. This to ensure you continue to pay the correct rate.
If you believe that your rateable value is too high you may have grounds to appeal.
For a detailed explanation of the appeals process, visit business rates appeals (GOV.UK)
You must continue to pay the current rateable value during any appeals process.
Find out how we deal with Freedom of Information requests about Business Rates.
For other queries, please contact us.
Up to: Business Rates
Updated: 12 March 2021