Herefordshire Council has a legal duty to collect business rates. Of the money collected 50 percent is paid to central government, 1 percent to the Hereford and Worcester Fire Authority and 49 percent is retained by Herefordshire Council.
All non-domestic properties have a rateable value set and maintained by the Valuation Office Agency. This is based on the market rent that could be achieved for the property at a given date.
A revaluation of rateable values usually takes place every five years. The last was on 1 April 2010 and was based on the valuation date of 1 April 2008. From 1 April 2017 rateable values will be based on the valuation date of 1 April 2015. You can find more information and search for a property's rateable value on the Government's business rates pages.
All non-domestic property has a rateable value set by the Valuation Office Agency (VOA), unless it is exempt. Exempt properties include churches, public parks, agricultural land and buildings. If you think your rateable value is wrong, you can appeal to the Valuation Office Agency.
Larger businesses (rateable value £51,000 or over)
To calculate a business rates bill, the rateable value is multiplied by the national multiplier. This is set by central government each year. For the financial year 2017/18 it is £0.479 pence in the pound. Therefore, if your rateable value is £52,000 your business rates bill would be £24,908.
Small business rate relief multiplier (less than £51,000)
Small businesses whose rateable value is less than £51,000 and who qualify for small business rate relief are charged rates using a lower multiplier. For 2017/18 the lower multiplier is £0.466 pence in the pound. Therefore, if you qualify for small business rate relief and your rateable value is £20,000 your full rates would be £9,320.