Non-Domestic (business) Rates

Non-domestic rates are calculated by taking the Rateable Value (RV) of a property and multiplying it by the non-domestic rates 'multiplier' or 'poundage' for the year in question. The Valuation Office Agency (VOA), which is independent of the Welsh Government, values properties for the purposes of charging non-domestic rates and assigns the Rateable Values.

The Welsh Government sets the multiplier each year: it cannot be increased by more than the previous September's retail price index. The provisional multiplier for the financial year 2012-13 is 0.452. There are various reliefs available which can help to reduce the rates bill for a business or other non-domestic property. The Welsh Government pays 100 per cent of mandatory rate reliefs and a percentage, in some cases up to 90 per cent, of discretionary reliefs. A business can appeal against its Rateable Value if it thinks it is incorrect.

All non-domestic rates are collected and paid in to the Welsh Government’s Non-Domestic Rates Pool. They are then redistributed back to local authorities as part of the local government revenue settlement each year.

Want to know more?

Use the following links:

• www.business.wales.gov.uk/businessrates (external link) is a Government-funded site, designed to provide businesses with a single source of clear and concise information on business rates
• The Valuation Tribunal Service in Wales (external link)