The Valuation Office Agency (VOA) sets the rateable value on which your business rates are based. The rateable value represents the rent the property could have been let for on a certain date, set in law. Read more about rateable value and how business properties are valued (GOV.UK).
Calculating your business rates bill
Central government makes national rules about business rates. They also set the business rates multiplier figures, effective from 1 April every year.
Your business rates bill is calculated by us, we're responsible for:
- calculating charges
- issuing bills
- collecting payments
To calculate your business rates bill we multiply the rateable value of the property by the business rates multiplier figure.
There are 2 multipliers:
- the standard non-domestic rating multiplier
- the small business non-domestic rating multiplier
The standard multiplier is higher in order to cover the costs of small business rate relief.
Get an estimate of your business rates and see the current multiplier by using the business rates estimator tool (GOV.UK); the estimator tool only provides an approximate figure. Your exact rates will be shown on your bill.