The rateable value of your property is not the amount you pay in business rates, but it is the basis for the calculation of your business rates bill. The rates due from any property are calculated by multiplying your rateable value by a factor set by central government each year, this is known as the multiplier. The amount you pay would normally increase in line with the movement in the annual Retail Price Index.

Rate Poundage

From 1 April 2005, there are two multipliers. For 2008/09, the small business multiplier, applicable to those businesses eligible for Small Business Rate Relief, is set at 45.8p. The standard multiplier, which includes the supplement to pay for Small Business Rate Relief, is set at 46.2p.

The National Non-Domestic multipliers since 1 April 1990 are as follows:

• 1990/91 34.8p in the £
• 1991/92 38.6p in the £
• 1992/93 40.2p in the £
• 1993/94 41.6p in the £
• 1994/95 42.3p in the £
• 1995/96 43.2p in the £
• 1996/97 44.9p in the £
• 1997/98 45.8p in the £
• 1998/99 47.4p in the £
• 1999/00 48.9p in the £
• 2000/01 41.6p in the £
• 2001/02 43.0p in the £
• 2002/03 43.7p in the £
• 2003/04 44.4p in the £
• 2004/05 45.6p in the £
• 2005/06 42.2p in the £ (Small Business rate multiplier 41.5p in the £)
  2006/07 43.3p in the £ (Small Business rate multiplier 42.6p in the £)
• 2007/08 44.4p in the £ (Small Business rate multiplier 44.1p in the £)
• 2008/09 46.2p in the £ (Small Business rate multiplier 45.8p in the £)