The rateable value of a property is set by the Valuation Office Agency, which is part of HM Revenue & Customs.
Rateable values are based on:
- the rental value that a well maintained property would attract
- the floor area of the building
- the usage of the building
- the location of the building
Check the rateable value of a property in Poole
How business rates are calculated (2018/19)
The small business rate multiplier is £0.480. This applies to properties with a rateable value of less than £51,000.
The larger multiplier of £0.493 is applied to properties with a rateable value of greater than £51,000.
For example, if your rateable value is £10,000 then your rates payable would be £4,800.
Which agency does what?
- the Valuation Office Agency determines the rateable value on which your rates are based
- the Government sets the multiplier and makes national rules about business rates
- Borough of Poole are responsible for billing and collecting business rates
Page last updated: 31 December 2018