Business Rates

Business rates are a tax applied on the businesses for local services.

Business rates are also known as non-domestic rates. It is a tax paid for commercial properties like shops, offices, warehouses, industrial units and other commercial properties. In most cases, business rates equate to 50% of the annual rateable value.

Who has to pay business rates?

Any individual or business occupying a commercial property must pay the business rates.

Work from home businesses usually does not pay non-domestic rates if a small part of the home is used for business purposes or you sell goods via post.

Individuals working from home must pay council tax and business rates if:

  • property is used for both domestic and business purposes, e.g., Flat above the shop.
  • Individuals supply goods and services to consumers who visit the property.
  • Anyone employed in the property.
  • You have made a change to your property- converted the garage into a yoga studio.

How much are business rates?

Properties ‘rateable value’ is used to calculate business rates. The rateable value is an open market rental value based on an estimate by the Valuation Office Agency- VOA.

How to calculate business rates?

Multiply the present multiplier with the rateable value of the property.

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