Each business property is prescribed a rateable value. This is independently assessed by the Valuation Office AgencyLink opens in a new window and represents the open market rental value of the property as at the 1st April 2015.
The rate bill is calculated by multiplying the rateable value by the rate multiplier. The rate multiplier is set by the Welsh Assembly Government and is reviewed annually. The multiplier for the financial year 2018/2019 is 0.514p
For example:
Rateable Value £20,000 x Multiplier 0.514 = Rate Bill £10,280
This will give you the gross liability but you may be entitled to certain reliefs.
Read the explanatory notes (125kb PDF)Link opens in a new window for the terms that may be used on a business rate demand and the supporting information.
For further information or advice please contact us.
Tel: 029 20871491