Business rates in detail

We work out business rates bills by multiplying the rateable value of the property by the appropriate multiplier.

From 1 April 2005 there have been two multipliers:

• the standard non-domestic rating multiplier
• the small business non-domestic rating multiplier

The former is higher to pay for small business rate relief.

For 2023-24, the multiplier is 51.20p in the pound or, for small businesses, 49.90p in the pound.

For 2024-25, the multiplier is 54.60p in the pound or, for small businesses, 49.90p in the pound.

The Government sets the multipliers for each financial year for the whole of England. Both multipliers usually change every year in line with inflation, unless the Government exercises its order making powers.

By law, the multipliers can't go up by more than the rate of inflation. The only exception is some minor adjustments to counteract losses from appeals and to pay for small business rate relief.

In the year of a revaluation, it is set at a level which will keep the total amount raised in rates after the revaluation the same as before, plus inflation for that year. The current multipliers are shown on the front of your bill.