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.

NNDR multipliers
Tax year Standard multiplier Small business multiplier
2024-2025 54.60p 49.90p
2023-2024 51.20p 49.90p
2022-2023 51.20p 49.90p
2021-2022 51.20p 49.90p
2020-2021 51.20p 49.90p
2019-2020 50.40p 49.10p
2018-2019 49.30p 48.00p
2017-2018 47.90p 46.60p 
2016-2017 49.70p 48.40p 
2015-2016 49.30p 48.00p
2014-2015 48.20p 47.10p
2013-2014 47.10p 46.20p
2012-2013 45.80p 45.00p
2011-2012 43.30p 42.60p
2010-2011 41.40p 40.70p
2009-2010 48.50p 48.10p
2008-2009 46.20p 45.80p
2007-2008 44.40p 44.10p
2006-2007 43.30p 42.60p
2005-2006 42.20p 41.50p
2004-2005 45.60p -
2003-2004 44.40p -
2002-2003 43.70p -
2001-2002 43.00p -
2000-2001 41.60p -
1999-2000 48.90p -
1998-1999 47.40p -
1997-1998 45.80p -
1996-1997 44.90p -
1995-1996 43.20p -
1994-1995 42.30p -
1993-1994 41.60p -
1992-1993 40.20p -
1991-1992 38.60p -
1990-1991 34.80p -