Definition of business rates

Business rates (or non-domestic rates) are charged on the occupation of non-domestic property (for example, offices and shops) in the UK. Different rules apply in Scotland and Northern Ireland, but in England and Wales the amount changes is based on the rateable value of a property (from 1 April 2017 this is the open market value at 1 April 2015, and prior to that the open market value at 1 April 2008) and a multiplier, which is an amount set by central government. [1]