Isle of Wight Council

Business Rates

Frequently Asked Questions for this Service

Question: I shall be taking on a new premise but sharing the shop floor with another business how will the rates bill be worked out?

Answer: If it’s one assessment we produce one bill and it is up to the leaseholder to ensure payments are made

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Question: Why would I have to pay business rates on a beach hut that is only for my own private use?

Answer: Businesses and other occupiers of Non-Domestic properties pay Business Rates to directly contribute towards the costs of local authority services. Council Tax is payable for domestic property, and Business Rates are payable for just about everything else – from offices and shops to beach huts and advertising hoardings. If your beach hut is your only Non-Domestic property, you will be entitled to Small Business Rate Relief.

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Question: I run my business from home, do I have to pay Business Rates?

Answer: You need to contact the Valuation Office to discuss this as they are responsible for the rating of properties not the Isle of Wight Council. The Valuation Office can be contacted on telephone number 03000 501501 or by fax 03000 504370 or via their website at www.voa.gov.uk - Related Link

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Question: How can I pay my Business Rates?

Answer: There are several ways of paying your rates, information can be found on the reverse of the bill; Direct Debit is by far the most efficient method. The collection date can be either the 1st, 10th or 20th of the month. A Direct Debit instruction can be downloaded from the councils website "Do it Online" .

- Related Link

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Question: How much am I likely to pay for my business rates?

Answer: To estimate the rates payable, multiply the rateable value for your business with a multiplier set by the government. A multiplier is the number of pence per pound of rateable value that you will have to pay in business rates, before any relief or discounts are deducted.

Multipliers are reviewed every year in line with inflation.

More information is available at www.voa.gov.uk - Related Link

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Question: What should I do if I am moving into new business premises?

Answer: You will need to contact us by writing to the Revenues and Benefits Service, PO Box 238, Newport, PO30 9FP, or by email at business.rates@iow.gov.uk. We will need the following information:

The new address of the business
The date you purchased or leased the property
The date you are moving into the property
The name and address of your landlord if you are leasing the property and correspondence address
The name of the business and to whom the bill should be addressed


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Question: I am starting up a new business, how do I register to pay Business Rates?

Answer: You need to contact us by writing to the Revenues and Benefits Service, PO Box 238, Newport, PO30 9FP, or by email at business.rates@iow.gov.uk. We will need the following information:

The address of the business
The date you purchase or lease the property
The date you are moving into the property
The name and address of your landlord if you are leasing the property
The name of the business and to whom the bill should be addressed and the correspondence address

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Question: How do I sign up for Paperless Billing (e-billing)?

Answer: To receive future bills by email please send an email request to business.rates@iow.gov.uk with the words 'ebill sign up' in the subject field.

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Question: How do I appeal against my rateable value?

Answer: You need to contact the Valuation Office as they are responsible for setting rateable values and dealing with appeals. You can go to the Valuation Office website to make an appeal, see link below, or they can be contacted on telephone number 03000 501501 - Related Link

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Question: How can I find out the rateable value of a property?

Answer: This information is available on the Valuation Office Agency website, please see link below or alternatively they can be contacted on 03000 501501.
Please note this is not the amount of rates you pay, to find out the rates payable contact us on (01983) 823920 - Related Link

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Question: How was my Rateable Value worked out?

Answer: At revaluation, the Valuation Office Agency (VOA) adjusts the rateable value of business properties to reflect changes in the property market.
It usually happens every 5 years. The most recent revaluation came into effect in England and Wales on 1 April 2017, based on rateable values from 1 April 2015. The next revaluation
is 1st April 2023.

You can check your valuation when you estimate your business rates from the following link - Related Link

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Question: How do you value a property?

Answer: The Valuation Office Agency values a property by its rateable value. Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 revaluation, that date was 1 April 2021.

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Question: How is my rateable value calculated?

Answer: In order to calculate the rateable value, the Valuation Office Agency analyses the rental property market to ensure that rateable values reflect the property market accurately.

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Question: Who decides on the valuation date?

Answer: The Government decide on the valuation date. They chose 1 April 2021 so that valuations would reflect the impact of COVID-19 on the property market.

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Question: How is my business rates bill calculated?

Answer: Business rates bills are calculated using a rateable value. Rateable values are based on how much rent a customer’s property could be let for, on a set date (1 April 2021 for Revaluation 2023).

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Question: What is revaluation?

Answer: Revaluation is a review of the rateable values of all non-domestic properties in England and Wales carried out by the Valuation Office Agency (VOA). This normally happens every 3 years.

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Question: Who do I contact if my property has changed?

Answer: If a property has changed, for example its floor sizes are different, then customers can let the VOA know by signing up for a Business Rates Valuation Account at the following link. - Related Link

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Question: Who do I contact if my rateable value is too high?

Answer: If you think that your future rateable value is too high, you can get in touch with the VOA using a Business Rates Valuation Account at the following link. You can only do this after 1 April 2023, which is the point the future valuation legally takes effect and can be challenged.

You must continue to make payments of your business rates as normal. If you do overpay, you can request a refund. - Related Link

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Question: Why do similar properties have different rateable values?

Answer: When calculating a rateable value, the Valuation Office Agency considers how much a property could be let for, on a set date. The rateable value of properties can vary for a number of reasons like size or location.

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Question: What business rates reliefs are available?

Answer: There are several types of business rates relief for customers. You can find further information on the following government website. You may need to contact us to check your eligibility.

- Related Link

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Question: What is the valuation date for revaluation 2023?

Answer: The valuation date for revaluation 2023 is 1 April 2021.

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