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  4. How your Business Rates are calculated

How your Business Rates are calculated

If you own, lease or occupy a building for non-domestic purposes, you will have to pay Business Rates. We work this out by multiplying your rateable value by the multiplier.

We calculate your Business Rates bill and will send your bill for the next tax year every March. We will send you a revised bill if the charge changes for any reason.

Estimate your bill

You can estimate your Business Rates bill by using the GOV.UK estimator tool. Please note, this is for guidance only. The exact amount to pay will be on the bill that we will send you.

Understand who does what

The Valuation Office Agency (VOA) sets the rateable value on which your rates are based.

The government sets the multiplier and makes national rules about Business Rates.

We, the council, calculate your bill and collect your Business Rates.

Rateable values and multipliers

Rateable values

Your Business Rates are worked out based on your property’s ‘rateable value’. The rateable value is an assessment of the annual rent, based on an estimate by the Valuation Office Agency (VOA).

Multipliers

The multiplier is used to calculate your bill. For every hereditament (property and/or land) the basic bill is calculated by multiplying the rateable value by the multiplier.

Small business multipliers (SBRR)

Small Business Rates Relief was introduced in 2005. At the same time, a small business multiplier was created.

The small business multiplier is applied to a bill instead of the standard multiplier if the occupier:

  • qualifies for small business rate relief or
  • has a rateable value below a limit stated in the small business rates legislation

Business rates multipliers (Standard multiplier)

The multiplier is set annually by the Secretary of State, it is linked to the increase in the retail price index. The multiplier is expressed to three decimal places only.

Year SBRR Multiplier Standard Multiplier
2017/18 46.6 47.9
2018/19 48.0 49.3
2019/20 49.1 50.4
2020/21 49.9 51.2
2021/22 49.9 51.2
2022/23 49.9 51.2
2023/24 49.9 51.2

Revaluation

At revaluation, the Valuation Office Agency (VOA) adjusts the rateable value of business properties to reflect changes in the property market.

The most recent revaluation came into effect on 1 April 2023. The next revaluation is expected to take place in 2026.

You can check your valuation when you estimate your Business Rates

Appeal about your rateable value

The Valuation Office Agency (VOA) values all business properties for business rates. The valuation is based on information the VOA holds about your property.

You can view and update this information at GOV.UK

You can find more information and contact the VOA at GOV.UK

If you are unable to use the online service you can also contact the VOA on 03000 501 501.