Business Rates are calculated by combining the rateable value with the national non-domestic multiplier.

All Non Domestic Rated properties have a rateable value which is set by the Valuation Office Agency (VOA), part of H.M. Revenue and Customs. The Rateable Value of your property is shown on the front of your bill.  The council uses the rateable value provided by the Valuation Office Agency (VOA) to work out how much you pay.  You can check your rateable value and compare it with others on the VOA website www.voa.gov.uk.

The VOA re-assesses the Rateable Values of all Non Domestic properties every five years. This process is known as revaluation and the most recent one became effective on 1 April 2010.

To determine how much you must pay, your rateable value is multiplied by a factor known as the non domestic rating multiplier; this is fixed each year by the Government.

What is a Transitional Arrangement?

Property values can change substantially between each five year revaluation.  The transitional arrangement scheme sets limits on the amount your bill can increase or decrease each year.  This will continue to apply to yearly increases/decreases until the full amount is due.  After these limits have been applied your bill will also increase in line with inflation.

The Council will automatically calculate any transitional arrangement against your NNDR bill, there is no need to apply for this.

Telephone 01983 823920 – Lines are open between 8.00 am – 6.00 pm Monday – Friday


E-mail
E-mail: [email protected]

Fax
01983 823900

Write to
Isle of Wight Council
Revenues Division
Council Offices
Broadway
Sandown
Isle of Wight
PO36 9EA

Opening times: 08.30 – 5.00pm Monday, Wednesday and Thursday

08.30 – 4.30pm Friday. Closed all day Tuesday