How we calculate your business rates
Apart from properties that are exempt from business rates, each non-domestic property has a rateable value set by the Valuation Office Agency (VOA). The VOA keeps a full list of all rateable values shown in local and national lists.
We work out your business rates bill by multiplying the rateable value of the property by the appropriate rate in the pound (known as a 'multiplier'). For 2020/21, this is set at 51.2p.
If your rateable value is less than £50,000, we will multiply your rateable value by the small business multiplier. For 2020/21, this is 49.9p.
The Government sets the multipliers for each financial year. The multipliers change each year in line with the Retail Price Index (RPI) and take account of the cost of small business rate relief.
We can reduce your business rates bill by awarding business rates relief.
Multipliers 2015 to 2020
|Small business multiplier||48.0p||48.4p||46.6p||49.1p||49.1p|
Multipliers 2010 to 2015
|Small business multiplier||40.7p||42.6p||45.0p||46.2p||47.1p|