Business rate revaluation
Revaluation - Business rates
Every five years, the Valuation Office Agency has a statutory duty to carry out a revaluation of all rateable values in England and Wales , which ensures that they reflect changes in the property market. The next revaluation is due to come into effect on 1 April 2015. Please visit the link below for further information:
Business Rates - 2010 Revaluation
Most commercial properties will be subject to the business rate, the occupier will pay the business rate, but if the property is empty the owner or leaseholder will pay a reduced rate, unless exempt.
To work out your bill, we multiply your rateable value by the national non-domestic multiplier. This is the rate in the pound set each year by the government. Between revaluation's the mutilper cannot increase by more each financial year than the annual rate of inflation (as at the previous September). In most cases this will be the amount you have to pay. However where transitional arrangements apply then a further amendment to the bill will be made. Click Here for details on transitional arrangements
There are other circumstances when you may qualify for a reduction. Click Here for details on how you can reduce your business rates.
The multipler for each financial year is shown below:
|
Year |
Multiplier (pence) |
S.B.R.R Multiplier (pence) |
|
1990/1 |
34.8 |
n/a |
|
1991/2 |
38.6 |
n/a |
|
1992/3 |
40.2 |
n/a |
|
1993/4 |
41.6 |
n/a |
|
1994/5 |
42.3 |
n/a |
|
1995/6 |
43.2 |
n/a |
|
1996/7 |
44.9 |
n/a |
|
1997/8 |
45.8 |
n/a |
|
1998/9 |
47.4 |
n/a |
|
1999/0 |
48.9 |
n/a |
|
2000/1 |
41.6 |
n/a |
|
2001/2 |
43.0 |
n/a |
|
2002/3 |
43.7 |
n/a |
|
2003/4 |
44.4 |
n/a |
|
2004/5 |
45.6 |
n/a |
|
2005/6 |
42.2 |
41.5 |
| 2006/7 | 43.3 | 42.6 |
| 2007/8 | 44.4 | 44.1 |
| 2008/9 | 46.2 | 45.8 |
| 2009/10 | 48.5 | 48.1 |
| 2010/11 | 41.1 | 40.7 |
| 2011/12 | 43.3 | 42.6 |
| 2012/13 | 45.8 | 45.0 |
Last Updated: 26/04/2012