How are business rates calculated?
We work out the business rates bill by multiplying the rateable value of the property by the appropriate multiplier - the current multipliers are shown on the front of your bill. The government sets the multipliers for each financial year for the whole of England.
There are two multipliers:
- standard non-domestic rating multiplier
- small business non-domestic rating multiplier.
The standard multiplier is higher to pay for the cost of small business rate relief (except in the City of London where special arrangements apply).
After a Rateable Value has been determined it is multiplied by the national non-domestic multiplier.