About Business Rates (NNDR)

Non-Domestic Rates, or Business Rates, collected by local authorities are the way that those who occupy non-domestic property contribute towards the cost of local services. Except in the City of London where special arrangements apply, the rates are pooled by central government and redistributed to local authorities as part of the annual formula grant settlement.

The money, together with revenue from council tax payers, revenue support grant provided by the Government and certain other sums, is used to pay for the services provided by your local authority and other local authorities in your area.

How is the charge set?

To calculate your business rates, we start by multiplying your rateable value by the "multiplier". The multiplier, also known as the rate poundage, is set by Central Government.

The multiplier indicates the percentage, or pence in the pound, of the rateable value that you will pay in business rates. It is set at each revaluation by Communities and Local Government in England and the Welsh Government. The City of London can set its own multiplier.

The standard multiplier is calculated by adding supplement to the small business rate multiplier to fund small business rate relief. The small business rate relief multiplier increases each year by the annual Retail Prices Index inflation rate for September

What is rateable value and who decides it?

Rateable value represents the open market annual rental value of a business or non-domestic property on a set valuation date. This means the rent the property would let for on the valuation date, if it was being offered on the open market. Current rateable values, which came into effect on 1 April 2010, represent rental values as at 1 April 2008.

Rateable values are determined by the Governments Valuation Office Agency (VOA). The Gedling Borough is covered by:-

East Midlands Group
Ground Floor
Ferrers House
Castle Meadow Road
Nottingham
NG2 1AB

Telephone: (0115) 980 0900
Fax: (0115) 980 0998
e-mail: eastmidlandsgroup@voa.gsi.gov.uk