Business Rates

A tax on the occupation of non-domestic property. Business rates are calculated from the property’s ‘rateable value’, which is its open market rental value on 1 April 2015, based on an estimate by the Valuation Office Agency. This is multiplied by the appropriate “multiplier” set by central government (devolved in Scotland, Wales, and the City of London). Small businesses and charities have different levels of relief.

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