Business Rates

Business Rate Liability

Business Rates are payable on most non-domestic properties within East Lindsey. Examples of common non-domestic properties include: shops, offices, factories, warehouses, public houses, restaurants, and stables.

The person benefiting from a property normally pays the business rates. Usually this is the owner-occupier or leaseholder.

Calculating Business Rates

Every Business Rate property has a Rateable Value (RV).

Each year the government sets a fixed amount to be used in calculating Business Rates, known as the multiplier.

Bills are calculated by multiplying the RV of a property by the multiplier.

Rateable Value

The Valuation Office Agency (VOA) decides on the RV for each non-domestic property. This value is based on the yearly rent the property could have been let for on the open market on a particular date. For the ratings list that came into effect on 1st April 2010, this date was set as 1st April 2008.

The VOA may alter the RV if the circumstances of the property change.

The ratings list is re-valued every five years with the next list due to be effective on 1st April 2015.

You can appeal against an RV if you believe it is wrong. Further information can be found on the VOA website.

Multiplier

The government sets two multipliers every year - the standard multiplier and one for small businesses.

Transitional arrangements

There may be a large change in rateable values following each revaluation. Transitional arrangements help to phase the effects of these changes by limiting increases in bills.