Last updated: 5 April 2024
Next review: 4 December 2024
How business rates are worked out
We calculate business rates by multiplying:
- the rateable value for the property set by the Valuation Office
- pence in the pound of the rateable value payable in business rates, before any relief or discounts are applied
For the financial year 2024 to 2025, the multiplier is
- the small business multiplier will be frozen at 49.9p
- the standard multiplier will be uprated in April by September’s CPI figure (6.7%), increasing the multiplier from 51.2p to 54.6p
For the financial year 2023 to 2024, the multiplier is:
- non-domestic rating multiplier: 51.2p (0.512)
- small business non-domestic rating multiplier: 49.9p (0.499)
If your rate-able value is less than £51,000, we’ll calculate your Business Rate using the small business rate multiplier.
Find and check your business rates valuation
To see how to dispute the valuation and where to get professional advice, check the GOV.UK guide to business rates.
View our guides for information on business rates across the borough: