What is Business Rates?

Business rates (formally Non-Domestic Rates) are a property tax levied on most non-residential properties in England — shops, offices, warehouses, factories and some home-based businesses. They are calculated by multiplying the property's rateable value (set by the Valuation Office Agency) by a multiplier set each year by central government. Small businesses may qualify for Small Business Rate Relief (SBRR), which can reduce the bill to nil for properties with a rateable value below £12,000. Businesses can also appeal their rateable value if they believe it is too high.