How much will I have to pay?
The amount of business rate payable is calculated by multiplying the rateable value (RV) for the premises by the multiplier.
The RV is determined by the Valuation Office Agency (VOA), who undertake a revaluation on a regular basis, normally every five years. The last revaluation was done in 2023.
If you think the RV for your business premises is wrong, you will need to contact the Valuation Office Agency.
There are two multipliers set by the Government on a yearly basis. The standard multiplier is used to calculate the business rates payable in respect of businesses with a RV of £51,000 and over. The small business multiplier is used to calculate the amount payable by a business with a RV of less than £51,000.
|Small business multiplier
|2023 to 2024
|2022 to 2023
|2021 to 2022
|2020 to 2021
|2019 to 2020
|2018 to 2019
|2017 to 2018
|2016 to 2017
The council calculate the business rates payable using the appropriate multiplier then apply any discounts or reliefs due, before issuing a business rates bill.
If you receive a business rates bill that you think is incorrect, you need to email email@example.com as soon as possibl with your reasons.