2. How your rates are calculated
Business rates are worked out based on your property’s ‘rateable value’.
This is its open market rental value on 1 April 2015, based on an estimate by the Valuation Office Agency (VOA).
You can estimate your business rates by multiplying the rateable value by the correct ‘multiplier’ (an amount set by central government).
Your bill will be reduced if your property’s eligible for business rates relief.
If you think your rates are wrong
You can ask for your property’s rateable value to be corrected if you think it’s wrong.
If you’re asked to provide rental information
The VOA may ask you to provide rental information about your property so they can work out its rateable value.
Contact the VOA if you need more time to send in your rental information.