How business rates are worked out

Please read our information on how we are supporting residents and businesses, as well as information on affected services.


You will have to pay business rates if you own, lease or occupy a building or part of a building for non-domestic purposes, like a shop, office, pub, warehouse or factory, for example.

How your business rates are worked out

Your business rate is based on the rateable value of your property. This value represents the rent the property could have been let for on a certain date set in law. 

The rateable value is set by the Valuation Office Agency (VOA). 

To work out the annual business rates, we multiply the rateable value of the property by a ‘multiplier’ figure which is set by central government effective from 1 April every year.

Year

2017/18

2018/19

2019/20

2020/21

SBRR Multiplier

46.6

48.0

49.1

49.9

Standard Multiplier

47.9

49.3

50.4

51.2

 

Revaluation

The multiplier is reviewed every year but cannot increase or decrease more than inflation except in a revaluation year.

There is usually a revaluation every five years. The last one was 1 April 2015, which was effective from 1 April 2017.

We will make changes to your bill if the revaluation affects you. The transitional relief scheme helps to reduce the impact of a large increase or decrease in charges due to revaluations. It applies to charges based on the property at the time of the revaluation; not to any changes made afterwards that affects the rateable value. 

The next revaluation will take effect in 2023 to help reduce uncertainty for firms affected by the impacts of Coronavirus.

If you wish to find out what rates may be payable, you will find a business rates calculator on the Gov.uk website.

To find out a rateable value please visit the Valuation Office website.

Who does what?

  • The Valuation Office Agency sets the rateable value on which your rates are based. 
  • The government sets the multiplier and makes national rules about business rates.
  • We calculate, bill and collect business rates.

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