Uniform Business Rates are assessed based on what criteria?

Uniform Business Rates, which are a form of tax applied to most non-domestic properties in England and Wales, are primarily assessed based on the rateable value of the property. Rateable value is determined by a valuation office and reflects the estimated rental value of the property in its existing condition and use. This assessment takes into account various factors, including location, size, and the nature of the property, ensuring that the tax reflects the potential income that could be generated from the property if it were to be rented out.

The other criteria mentioned, such as the income generated by a business, the size of the workforce, or the number of customers served, do not directly influence the assessment of Uniform Business Rates. These factors might vary significantly across different businesses and do not provide a consistent basis for taxation that can be fairly applied across the board. Therefore, the focus on the rateable value ensures a standardized approach to tax assessment for all businesses within the framework of Uniform Business Rates.