How is your bill calculated
We work out your annual business rates bill by multiplying the rateable value of the property by the appropriate multiplier. The rateable value of your property is shown on your bill and usually represents the annual rent for which the Valuation Office considers the property could have been let for on a particular date.
Until 31 March 2017, the rateable values will be based on the valuation date of 1 April 2008. From 1 April 2017, the rateable values will be based on the valuation date of 1 April 2015.
If you think your rateable value is incorrect, you can find and view your property details on the link below.
The multiplier is the rate in the pound set annually by the Secretary of State. Any increase in the multiplier cannot exceed the rate of increase in the Retail Price Index, except in a revaluation year.
Multipliers for 2021/22
The standard non-domestic rating multiplier which is 51.2p in the pound.
The small business non-domestic rating multiplier which is 49.9p in the pound.
The final bill may be subject to the government's Transitional Relief Scheme. This works by comparing the amount of Business Rates that were paid in the previous year with the rate that is due in the current year.
|Year||Standard rating multiplier||Small business rating multiplier|