The business rates you pay for your demise depends on its ‘rateable value’ and this value is calculated by the Valuation Office Agency (VOA), which is a governmental body. The business rates are calculated as a percentage of the rateable value – the multiple at the moment is 43.7 for standard businesses and 43.0 for small businesses in London. Properties are evaluated either by the traditional rental approach, the contractor’s basis or the profits method.