What are business rates
Business Rates (also known as National Non-Domestic Rates) are a tax on commercial properties. They are based on the rateable value of your business premises which is set by the Valuation Office Agency. The last revaluation was effective from 1 April 2017. For more information on the 2017 revaluation, rateable values and business rates go to the website below.
Under the Business Rates retention arrangements, local authorities keep a proportion of the business rates. This provides a direct financial incentive for authorities to work with local businesses to create a favourable local environment for growth, since authorities will benefit from growth in business rates revenues.