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How are your business rates calculated?

The formula for calculating your bill is set by the Government.

The Council works out the bill by multiplying the rateable value of the property by the appropriate multiplier for the financial year.

The non-domestic rating multiplier in Wales for 2023/24 is 0.535 pence in the pound.

Calculation example

A business premises with a RV of 15,000 will have a rates bill of £8,025 for the full financial year i.e. 15,000 multiplied by 0.535.

There are a number of relief schemes in place which may reduce the amount of business rates that you pay. View these schemes here.