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About how your Business Rates are calculated

 

Your annual Business Rates bill is calculated and collected by the Council.

The Council multiplies the rateable value of an individual property, which is determined by the Valuation Office Agency, by a 'multiplier' set by Central Government. The calculation gives the amount of rates payable for the year.

The multiplier is set for the whole of England and is effective from 1 April each year.  The multiplier represents the number of pence in each pound of the rateable value that will be payable in Business Rates before any relief or discounts are applied.  

There are 2 multipliers.  The small business multiplier applies to properties which have a rateable value less than £51,000.  It also applies if the property is unoccupied and where the ratepayer is entitled to certain rate reliefs.

The national non-domestic rate multiplier applies to properties which have a rateable of £51,000 and above. It also applies if the property is unoccupied and where the ratepayer is entitled to certain rate reliefs.  The national non-domestic rate multiplier includes a supplement to fund the small business rate relief, which is a scheme that provides specific help for small business ratepayers.

The Government reviews the multiplier each year to reflect changes in inflation.  

 

Which agency does what?

The Valuation Office Agency determines the rateable value on which your rates are based. The Government sets the multiplier and makes national rules about Business Rates. New Forest District Council are responsible for billing and collecting Business Rates on behalf of Central Government.

 

Estimate your bill

You can estimate your business rates bill using the estimator on the GOV.UK website (external site). Any figures that the estimator provides are only estimates. Your exact liability will be shown on your Business Rates bill issued by the Council.

Updated: 7 Mar 2017
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