Business rates are calculated according to the rental value of the property a company uses. They date back to the Poor Law established in 1601. Every business has to pay business rates when they are in the occupation or part occupation of a commercial property including all factories, offices and shops throughout England, Scotland and Wales and set by the Valuation Office Agency or Assessors in Scotland. Revaluations were historically undertaken at five yearly intervals when invariably new legislation and procedures are introduced – however we are now on a seven-year cycle. The payment of rates on commercial property represents one of the largest overheads for businesses and substantially impact on the profitability of many organisations.