Your Business Rates bill explained

What is the rateable value?

The Rateable Value (shown as RV) is entered on the left hand side of the rate bill almost half way down, under the property description. The figure next to the letters RV is the rateable value for the property for which the demand is issued.
The annual charge payable is worked out by multiplying the rateable value by the national rate poundage.

Revaluations

All non-domestic property rateable values are reassessed at revaluations. The most recent revaluation took effect from 1 April 2017. Revaluations ensure that business rates bills are up-to date, more accurately reflect current rental values and relative changes in rents. Frequent revaluations ensure the system continues to be responsive to changing economic conditions.

The valuation office are currently collecting information for the next revaluation

Why has my bill changed?

The top right hand corner of the bill under the Account Number states the reason for demand. This may be a valuation amendment, new account, or other stated reason and should explain why a bill has been produced. For further information please contact the non-domestic rate section.