Working out your business rates
About business rates
You will have to pay business rates if you own, lease or occupy a building or part of a building for non-domestic purposes, like a shop or office. Your business rates bill is calculated by us. We will send you a bill for the next tax year in February or March. If the charge changes for any reason, we will send you a revised bill.
How is my bill calculated?
Business rates are calculated by multiplying the rateable value of your property by a national non-domestic rating multiplier which is set by the Government.
|Small business multiplier
|2023 to 2024
|2022 to 2023
|2021 to 2022
|2020 to 2021
|2019 to 2020
|2018 to 2019
|2017 to 2018
The amount you pay may be adjusted depending on transitional arrangements or other reliefs that you may be eligible for.
What is the rateable value?
Each non-domestic property has a rateable value which is normally set by the Valuation Office Agency (VOA).
The Valuation Office Agency website has a full list of all rateable values.
The rateable value of your property is shown on the front of your Business Rates bill. This broadly represents the yearly rent the property could have been let for on the open market on a particular date.
The VOA is required to maintain a local rating list for all properties in Derby and may alter the rateable value if the circumstances of the property change. The ratepayer (and certain others who have an interest in the property) can also appeal against the value shown in the list if they believe it is wrong.
A property's rateable value is an assessment of the annual rent the property would rent for if it were available to let on the open market at a fixed valuation date.
- From 1 April 2017, the rateable values will be based on the valuation date of 1 April 2015.
- From 1 April 2023, the rateable values will be based on the valuation date of 1 April 2021.
If you think your rateable value is incorrect, you can view your property details on the GOV.UK website.
What is a revaluation?
The Valuation Office Agency regularly reassess and update the rateable values of all business properties usually every five years. This is called a revaluation. This is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market. Revaluation does not raise extra revenue overall.
The 2017 non-domestic rating list will close on 31 March 2023. From 1 April 2023, customers will only be able to make a check against the new 2023 rating list. Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 valuation, that date is 1 April 2021.
For more information, visit the GOV.UK website.
Information with your business rates bill
Information relating to the gross expenditure of the local authority:
- Financial information booklet 2023/24
- Financial information booklet 2022/23
- Financial information booklet 2021/22
- Financial information booklet 2020/21
- Financial information booklet 2019/20
Each financial year, the Government issues a set of explanatory notes which is sent with your bill:
- Business rates explanatory notes 2023/24
- Business rates explanatory notes 2022/23
- Business rates explanatory notes 2021/22
- Business rates explanatory notes 2020/21
- Business rates explanatory notes 2019/20
Retail, hospitality and leisure relief recipients: