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  4. Calculating your business rates

Calculating your business rates

Your rates bill is calculated by applying a multiplier to the rateable value of the premises.

Rateable value

The rateable value is set by the Valuation Office Agency (VOA). They draw up and maintain a full list of all rateable values, available on the Valuation Office Agency website. You can also access this website at our the council office reception in Coleford.

The rateable value of your property is shown on your bill. This broadly represents the yearly rent the property could have been let for on the open market on a particular date. The last revaluation that came into effect on 1st April 2017 uses information taken on 1st April 2015.

The valuation officer may alter the value if circumstances change. The ratepayer (and certain others who have an interest in the property) can appeal against the value shown in the list if they believe it is wrong.

Appealing your rateable value

To make an appeal against your rateable value you do not have to be represented by a rating adviser. The ratepayer (and certain others who have an interest in the property) can appeal against the rateable value of a property if they believe it is wrong. The appeals process is free and you can appeal online on the Valuation Office Agency website.

If you wish to be represented, take great care when appointing a rating advisor. Check that they are knowledgeable and experienced and have appropriate indemnity insurance. Members of the following institutes are qualified and regulated by rules of professional conduct:

If you make an appeal against your rateable value you must continue to pay your rates until a decision has been reached.

Multipliers for the rateable value

There are two multipliers which are set by the Government from 1 April each year. Your business rates bill is calculated by applying the appropriate multiplier to the rateable value. For the year starting 1 April 2020 the multipliers are:

  • standard non-domestic rating multiplier 0.512
  • small business non-domestic rating multiplier 0.499

The government normally changes the multiplier every year to move in line with inflation. By law, the multiplier cannot go up by more than the rate of inflation, except in the year of a revaluation when it is set at a level which will keep the total amount raised in rates after the revaluation the same as before, plus inflation for that year.

Transition scheme

All rateable values are reassessed periodically at a general revaluation. The current rating list is based on the 2017 revaluation.

For those ratepayers who would otherwise have seen significant increases in their rates liability, the government has put in place a £3.6 billion scheme to limit and phase in changes in rate bills as a result of the 2017 revaluation. To help pay for the limits on increases in bills, there were also limits on reductions in bills.

Under the transition scheme, limits continue to apply to yearly increases and decreases until the full amount is due.

The scheme applies only to the bill based on a property at the time of the revaluation. If there are any changes to the property after 1 April 2017, transitional arrangements will not normally apply.

The transitional arrangements are applied automatically and are shown on your bill.

For more information on revaluation 2017, visit the Valuation Office Agency website.

Business rates data

We receive a high volume of Freedom of Information requests for information about rate relief and empty properties with rateable values. We will now make the data available and it will be updated quarterly.

The current Non-Domestic Rates (NDR) database contains details of all properties including rateable value (RV) and any reliefs or exemptions awarded: