Our
Guide to Business Rates.
National
Non Domestic Rates (Business Rates)
National
Non Domestic Rates (NNDR), often called Business Rates, was
introduced on 1st April 1990. Business Rates is a form of
taxation levied on the occupier of commercial premises. It
is collected by the local authority on behalf of the government.
Business
Rates are payable on every property that has an entry in the
Rating List. The Rating List is compiled every five years
by the Valuation Office Agency (VOA). It gives details of
every commercial property in England and Wales. There is a
similar document for properties in Scotland called the Valuation
Roll, which is compiled by the Assessors Office. The entry
includes the address, the description and the Rateable Value
(RV) of the property. The VOA or Assessors Office has a duty
to maintain an accurate list and will make alterations to
the list - new entries, deletions, changes to the Rateable
Value - whenever necessary. |