How Business Rates Are Calculated
The rateable value of your property is not the amount you pay in business rates. It is the basis for how your bill is calculated.
Your rates 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 1990 there was one multiplier, and from 1 April 2005 a further multiplier was introduced.
Most recent multipliers are as follows:
- 2017/18 47.9p in the £ (small business rate multiplier 46.6p in the £).
- 2018/19 49.3p in the £ (small business rate multiplier 48.0p in the £).
- 2019/20 50.4p in the £ (small business rate multiplier 49.1p in the £).
- 2020/21 51.2p in the £ (small business rate multiplier 49.9p in the £).
- 2021/22 51.2p in the £ (small business rate multiplier 49.9p in the £).
- 2022/23 51.2p in the £ (small business rate multiplier 49.9p in the £).
- 2023/24 51.2p in the £ (small business rate multiplier 49.9p in the £).
- 2024/25 54.6p in the £ (small business rate multiplier 49.9p in the £).
- 2025/26 55.5p in the £ (small business rate multiplier 49.9p in the £).
The Non-Domestic Rating Multipliers for 2026/27 will be as follows:
Small business RHL multiplier: 38.2p
Small business non-domestic rating multiplier: 43.2p
Standard RHL multiplier: 43.0p
Standard non-domestic rating multiplier: 48.0p
High-value non-domestic rating multiplier: 50.8p
