Calculating business rates
How is my bill calculated?
Business rates are calculated using the same 'multiplier' throughout England, no matter which council is collecting it (except the City of London).
Every five years the Valuation Office Agency (an agency of the Inland Revenue) carries out a valuation of every business property to determine a 'rateable value' for each one and adds each property to a rating list.
For consistency, a revaluation is carried out every five years. It is to ensure that rateable values are consistent with current rental market conditions.
The rateable value is multiplied by a value, known as the multiplier, to determine the business rates charge for the year (subject to some transitional arrangements which may be in place following each revaluation).
How the multiplier works
The government sets the multipliers for each financial year for the whole of England, and normally changes the multipliers each year in line with inflation.
What are the most recent multipliers?
- 2024/25: 54.6p in the pound (standard multiplier)
- 2024/25: 49.9p in the pound (49.9p in the pound for properties eligible for small business rates relief)
Vacating a property
Business rates are a daily charge. If the property becomes empty part way through the year, you only pay business rates for the days the property was occupied. However, you may be liable for a subsequent empty property rate.
If you need to inform us about a property becoming vacant, please contact us.
