Business Rates are a form of tax that local governments charge on non-domestic properties, such as shops, offices, and factories. The amount is based on the property's estimated value, known as the Rateable Value, which is assessed by the Valuation Office Agency in the UK. These rates help fund local services like schools, roads, and emergency services. Businesses typically pay Business Rates annually, and the amount can vary depending on the property's location and size. There are also relief options available, such as Small Business Rate Relief, which can reduce the amount owed for eligible businesses.