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Business rates

How much will I have to pay?

Every business property has a rateable value set by the Valuation Office Agency (VOA). The value reflects the annual rent the property would achieve on the open market at a set date.

A revaluation of rateable values was completed on 1 April 2017. The revaluation of rateable values reflects changes in the property market since 2008.

Every year the Government sets the multiplier - or the percentage of the rateable value you have to pay in tax. From the financial year commencing 1 April 2020, this has been set as:

  • £0.499 pence for properties with a rateable value of up to £50,999
  • £0.512 pence for properties valued at £51,000 or above

So, if your property has a rateable value of:

  • £10,000 you will pay £4,990 in rates (£10,000 multiplied by £0.499 pence)
  • £51,000 you will pay £26,112 in rates (£51,000 multiplied by £0.512 pence)

You can find the rateable value of your business via the GOV.UK Find a business rates valuation (opens new window) service.

You can challenge your business rates rateable value for free. You may choose to appoint an agent to carry out this work on your behalf.

If you choose to appoint an agent, you should be aware that there are a number of business rates agents operating around the country. Please see the GOV.UK: Council Tax and business rates scams (opens new window) page for more information.

Last modified on 31 January 2023

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