How Your Bill is Calculated
The local authority works out the business rates bill for a property by multiplying the rateable value of the property by the appropriate non-domestic multiplier. There are two multipliers: the standard non-domestic rating multiplier and the small business non-domestic rating multiplier. The government sets the multipliers for each financial year, except in the City of London where special arrangements apply.
Ratepayers who occupy a property with a rateable value which does not exceed £50,999 will have their bills calculated using the lower small business non-domestic rating multiplier. Both multipliers for a financial year are based on the previous year's multiplier adjusted to reflect the Consumer Price Index (CPI) inflation figure for the September prior to the billing year, unless a lower multiplier is set by the government. The current multipliers are shown on the front of your bill.
| The standard multiplier | 2025-26 – 0.555 (55.5 pence in the pound) | 2024-25 – 0.546 (54.6 pence in the pound) | 2023-24 – 0.512 (51.2 pence in the pound) | 2022-23 – 0.512 (51.2 pence in the pound) |
|---|---|---|---|---|
| Small business rate multiplier | 2025-26 – 0.499 (49.9 pence in the pound) | 2024-25 – 0.499 (49.9 pence in the pound) | 2023-24 – 0.499 (49.9 pence in the pound) | 2022-23 – 0.499 (49.9 pence in the pound) |
If you have any questions regarding the payment of your business rates, or if you think you may be entitled to business rates relief, please Contact Us.
Rateable Value
Apart from properties that are exempt from business rates, each non-domestic property has a rateable value which is set by the Valuation Office Agency (VOA), an agency of Her Majesty's Revenue and Customs. They compile and maintain a full list of all rateable values, available at GOV.UK - VOA. The rateable value of your property is shown on the front of your bill. This broadly represents the yearly rent the property could have been let for on the open market on a particular date specified in legislation. For the current rating list, this date was set as 1st April 2021.
The VOA may alter the valuation if circumstances change. The ratepayer (and certain others who have an interest in the property) can also check and challenge the valuation shown in the list if they believe it is wrong. Further information about the grounds on which challenges may be made and the process for doing so can be obtained by contacting the VOA, or by consulting the VOA website: GOV.UK - Check and challenge your business rates valuation: step by step.