East Suffolk Council
How your business rates are worked out
The amount paid for business rates is based on the rateable value of a property, which is calculated by the Valuation Office Agency. Business rates are calculated by:
- the rateable value of your property (set by the Valuation Office Agency)
- the rate multiplier (set by the Government)
Estimate your business rates at GOV.UK
Rural settlements
Rural rate relief is available for certain types of businesses situated within a rural settlement with a population of 3,000 or below. In order for businesses to qualify they must be:
- the only ‘general store’ with a rateable value below £8,500.
- the only ‘post office’ with a rateable value below £8,500.
- any ‘food shop’ (excluding confectionary stores, takeaways and restaurants) with a rateable value below £8,500.
- the only ‘public house’ with a rateable value below £12,500
- the only ‘petrol filling station’ with a rateable value of less than £12,500.
An eligible ratepayer is entitled to relief at 100% of the full charge (with effect from 1 April 2017) whilst the local authority also has discretion to give discretionary relief to those premises listed above which have a Rateable Value less than £16500.
Business rates revaluation
The Valuation Office Agency revalues properties for business rates periodically. Revaluations have usually occurred every five years. A revaluation last took place on 1 April 2017. The next revaluation is scheduled for 01-04-2023, and is then intended to be on a 3 yearly cycle from then, with the next coming around 2026.