mybusinessrates.gov.uk/wales the official government website
Glossary
AppealThe appeal process is available to all ratepayers who feel that their rateable value is incorrect. There are other options open to ratepayers before initiating an appeal, which can often be a long, drawn out process. The Valuation Office Agency is available to deal with any queries about the rateable value and should be the first point of contact. If an appeal is necessary they are able to offer help free of charge. Professional rating surveyors can also handle an appeal process - it is advisable that ratepayers ensure that anyone they approach is a member of one of the professional associations and that they read the terms of any contract carefully before committing themselves.
Business ratesThe way businesses and other non-domestic property contribute towards the cost of local authority services.
Local authorityPublic body responsible for calculating business rates bills, issuing them and collecting payments. Also referred to as billing authority, local council.
MultiplierA key factor in the calculation of the business rates bill. It is set annually by central government and determines the percentage (expressed as pence in the pound) of the rateable value of your property that you pay in business rates. Also referred to as the Uniform Business Rate, or poundage.
Non-domestic propertyThe term to describe all business property and other properties that are not used solely for domestic purposes, such as houses.
Rateable valueThe value assigned to a non-domestic property. It is based on a professional assessment of the annual rent of a property if it was available to let on the open market on a fixed valuation date.
ReliefsReliefs give reductions on the rates liability and there are a number of different reliefs available. Eligibility is based on meeting certain criteria and these vary depending on the relief in question.
Rates billThis is calculated and sent out by your local authority each year, between February and April. It shows the amount payable for the coming year and how that figure has been worked out. Payment is normally requested in a number of instalments. The bill shows the amount of each instalment and the dates on which payment should take place.
Rates liabilityThe total amount on the rates bill is sometimes referred to as the rates liability - how much the ratepayer is liable for.
Rating listThe rateable value of all business and non-domestic property appears in rating lists published by the Valuation Office Agency. The most recent list was published on 1 April 2005 and will last for five years. Rating lists are available at Valuation Offices, on the VOA website and in some public libraries.
Rating surveyorQualified professional who is able to act as an agent and handle aspects of business rates on behalf of the ratepayer. It is advisable that ratepayers only work with a surveyor who is a member of one of the recognised professional bodies - Royal Institution of Chartered Surveyors (RICS), Institute of Revenues, Rating and Valuation (IRRV) or the Rating Surveyors Association (RSA). Sometimes referred to as a rating agent.
Retail zonesRetail zones, or 'zoning', are used as a means of determining the rateable value of a typical shop. Zoning is based on the principle that the most valuable part of a shop is at the front, nearest the principal customer entrance.
RevaluationRevaluation is a reassessment of the rateable values of all business and non-domestic property in Wales and England. The revaluation is carried out by the Valuation Office Agency every five years. The most recent revaluation came into effect on 1 April 2005.
Small Business Rate ReliefThis is a new relief that came into effect on 1 April 2005. The relief is available to a business occupying properties with a total rateable value of less than £15,000 (or less than £21,500 in London).
The scheme will be funded by a supplement on the rate bill of those businesses not eligible for the relief. This supplement is built into the multiplier. Businesses that have a rateable value of £10,000 or over but less than £15,000 (or less than £21,500 in London) may be eligible to pay the multiplier without the supplement included.
Summary valuationA summary valuation explains how the rateable value of a business property contained in the rating list has been calculated. Summary valuations were sent out to most ratepayers for the first time during October 2004; in addition, many summary valuations are available online.
Transitional arrangementsTransitional arrangements exist to soften the impact that revaluation can have on the rates bill if there are dramatic changes in the rateable value of a business property. Transitional arrangements limit the percentage by which a bill can increase or decrease each year so that the changes are made more manageable by being phased in.
Valuation dateThe valuation date is the fixed date on which assessments of rateable values are based. This date is always set two years prior to a revaluation coming into effect. For the 2005 revaluation the valuation date is 1 April 2003.
Valuation OfficerRepresentative of the Valuation Office Agency, who has responsibility for particular businesses in their area.
Valuation tribunalThere are 4 valuation tribunals in Wales, covering east, north, west and south Wales. They are financed by the Welsh Assembly Government. Each one is an independent organisation that deals with appeals about business rates and council tax. Valuation tribunals are independent of both the Valuation Office Agency and the local authority.