What are Business Rates
What are Business rates?
National non-domestic rates, often referred to as business rates, are a tax on properties that are not used for domestic purposes such as shops, factories and offices. They are collected by us on behalf of Central Government.
How are business rates calculated?
Each commercial property is issued a rateable value (RV) set by The Valuation Office Agency (VOA) which is multiplied by the national multiplier.
The national multiplier is the number of pence in the pound of the rateable value that will be payable in business rates before any relief or discounts are applied.
For the 2020/21 financial year:
- the standard multiplier is 51.2 pence in the pound
- the small business multiplier is 49.9 pence in the pound
The small business multiplier is applied for properties with a rateable value under £51,000.
Please note that your property does not have to be occupied to receive a business rates bill each year.
If you have any questions about your business rates, please contact us quoting your business rate reference number by:
- email: email@example.com
- writing to London Borough of Redbridge, Business Rate Office, Lynton House, 255-259 High Road, Ilford, Essex, IG1 1NY
- phoning (020) 8708 4357, to use Text Relay - prefix the number with 18001