How are my business rates calculated?

Business rates are payable by the occupiers of all non-domestic/business property, in the same way that council tax is a tax on domestic property.

Business rates are charged on most business properties such as shops, offices, pubs, warehouses and factories. However, the property doesn't have to be used for a business - if it is used for purposes which are not domestic it is likely to be rateable.

The Valuation Office Agency sets the rateable value of business premises by using property details such as rental information. We use the rateable value and the national non domestic rates multiplier (set by central government) to calculate your business rates bill.

What is the National Non Domestic Rating Multiplier?

This is the rate in the pound by which the rateable value is multiplied to give the annual rate bill for a property.

The multiplier set annually by the Welsh Ministers is the same for the whole of Wales. The multiplier for 2023/24 was 0.535 and for 2024/25 is 0.562.

Further Information

More information is available at www.gov.uk.