Business Rates

From 1st April 2000 all businesses in England will have a new rateable value for their property. This is following a revaluation carried out by the Valuation Office Agency.

Property re-valuations result in increased rateable values across the board. It does not follow, however, that increased rateable values lead to increased rate bills. This is because the amount by which the rateable value is multiplied (the multiplier) is reduced by the Government, as a result of re-valuation.

With effect from 1st April 2000 a reduced multiplier of 41.6p (down 15% from 1999/2000) will apply to the new rateable values.

The Government expects there to be some gainers and losers from these changes and makes provision for this by phasing in changes under a new transitional relief scheme. The scheme is designed to give special help to small businesses.

To find out your new rateable value from the "draft list" you can log onto the Valuation Office Agency web site where you will be able to do a search to find the 2000 rateable value for your specific property.

A new leaflet "Business Rates: A Guide" issued by the Department for Transport, Local Government and The Regions is available to view online. It contains information on who has to pay business rates, how to pay, what is rateable value and what are the appeal procedures and what is the valuation tribunal.

The Business Rate Bill 2005 leaflet produced by the Office of Deputy Prime Minister.

If you have further questions on business rates, please visit the Council’s website for Business Rates. Alternatively, please ring the Revenues Officer on 01438 242115 or 01438 242130.

Alternatively email for questions regarding the issue.