How are business rates calculated?
If you own a business, you may have to pay business rates (or NNDR which stands for national non-domestic rates).
Business rates are paid by businesses (and other occupiers of non-domestic properties).
Although we collect business rates, the amount local businesses pay is set by central government.
Under the business rate retention scheme (introduced 1 April 2013), we now keep a portion of the rates paid by local businesses.
This is used to help support local services. We pass the rest to central government.
The Valuation Office Agency, an executive agency of HM Revenues & Customs, place a rateable value on every business property based on the open market annual rental value payable at a property at a specified date. To find out more visit the Valuation Office Agency's website and read the introduction to business rates