How much you pay will depend on:
- the rateable value of your premises, which is set by the Valuation Office Agency (VOA)
- what multiplier is set by central government
- what rate relief schemes you are eligible for, which are applied by us when we work out your bill
To calculate how much a business must pay, we will multiple the rateable value of an individual property by the 'multiplier' (the national non-domestic multiplier). This calculation gives the amount of rates payable for the year.
The rateable value of your premises is based open market rental value on 1 April 2021. Valuation usually happens every 3 years. The most recent revaluation came into effect in England and Wales on 1 April 2023. You can check your valuation when you estimate your business rates
The multiplier is set for the whole of England and is effective from 1 April each year. It represents the number of pence in each pound of the rateable value that will be payable in business rates before any relief or discounts are applied.
Your bill will be reduced if your property’s eligible for business rates relief. Contact us if you don't think you are getting the relief you think you’re entitled to.
If you think your rates are wrong
You can ask for your property’s rateable value to be corrected if you think it’s wrong.