Business rates: the basics

Rates for retail units


When calculating business rates for retail units Land & Property Services (LPS) assess the Net Annual Value (NAV) by using zoning. Zoning is a methodology used in assessing the rental value of retail units and is used for shops, hair salons, banks, betting shops and most restaurants. LPS use zoning as it helps take into account different sizes and shapes of shops and awkward layouts.

LPS also consider other parts of the property that are ancillary or tertiary spaces such as upstairs offices and store rooms. They are rated but zoning is not applied for these areas of the property. Some spaces are not considered useable retail areas and are excluded from valuation. These spaces include toilets, lobbies, plant rooms and stairwells.

Queries on your business rates

If you have a query regarding business rates you should contact Land & Property Services.

Reval 2026

The short video below explains the latest revaluation process, known as Reval 2026, which will create a new valuation list that will be used to calculate business rate bills from April 2026.