mybusinessrates.gov.uk/wales the official government website
Working from home, renting out a holiday home or providing bed and breakfast - you may have to pay business rates on your property
Understanding summary valuations
Every five years the rateable values of all 1.75 million business properties in Wales and England are reassessed. The most recent revaluation came into effect on 1 April 2005. Many ratepayers received details of their proposed new rateable value in the form of a summary valuation.
What is it?
Business rates are paid by most occupiers of business property as a way of contributing towards the cost of local services.
You receive your rates bill from your local authority each year, between February and April. It tells you the amount you have to pay in the coming year and how the local authority has worked out that amount. You will normally be asked to pay in a number of instalments. The bill shows the amount of each instalment and the dates on which you should pay.
Although your local authority issues the bill and collects your business rates, the total amount collected across the country goes into a central rate pool for Wales. This is managed by the Welsh Assembly Government, which redistributes the funds to local authorities, and to other bodies like police and fire authorities.