Each business property is prescribed a rateable value. This is independently assessed by the
Valuation Office Agency and represents the open market rental value of the property as at the 1 April 2021.
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 2023 to 2024 is 0.535p.
For example:
Rateable Value £20,000 x Multiplier 0.535 = Rate Bill £10,700.
This will give you the gross liability but you
may be entitled to certain reliefs.
Read the explanatory notes for the terms that may be used on a business rate demand and the supporting information.
For further information or advice please contact us.
Contact us
Tel: 029 20871491