What business rates are

Rating advisers

Ratepayers do not have to be represented in discussions about their rateable value or their rates bill. Appeals against rateable values can be made free of charge.

However, ratepayers who do wish to be represented should be aware that members of the Royal Institution of Chartered Surveyors (RICS)  and the Institute of Revenues Rating and Valuation (IRRV)  are qualified and are regulated by rules of professional conduct designed to protect the public from misconduct.

Before you employ a rating adviser, you should check that they have the necessary knowledge and expertise, as well as appropriate indemnity insurance. Take great care and, if necessary, seek further advice before entering into any contract. 

Rateable value

Apart from properties that are exempt from Business Rates, each non-domestic property has a rateable value, which is set by the valuation officers of the Valuation Office Agency (VOA), an agency of the Inland Revenue. It draws up and maintains a full list of all rateable values, which are available on their website. 

The rateable value of your property will be shown on the front of the bill. The rateable value broadly represents the yearly rent the property could have been let for on the open market on a particular date. For the revaluation that came into effect on 1 April 2023, this date was set as 1 April 2021. 

The Valuation Officer has to maintain the list and may alter the value if he or she believes that the circumstances of the property have changed. The ratepayer (and certain others who have an interest in the property) can also appeal against the value shown in the list if they believe it is wrong. Further information on the grounds for making an appeal, and on how to make one, can be found on the VOA website.

The valuation office are currently collecting information for the next revaluation.

The effect of successful appeals against values shown in the rating list that came into force on 1 April 2010 will normally be backdated to the beginning of the financial year in which they are made, although there are exceptions to this.  Further information about these arrangements may be obtained on the VOA website.

accordion | business rate multiplier per year

Business Rate Multiplier per year

2024/2025

The small business non-domestic rating multiplier for 2024/2025 is 49.9p per pound of the rateable value  (or 0.499) and the non-domestic rating multiplier is 54.6p (or 0.546)

2023/2024

The small business non-domestic rating multiplier for 2023/2024 is 49.9p per pound of the rateable value  (or 0.499) and the non-domestic rating multiplier is 51.2p (or 0.512)

2022/2023

The small business non-domestic rating multiplier for 2022/2023 is 49.9p per pound of the rateable value  (or 0.499) and the non-domestic rating multiplier is 51.2p (or 0.512) 

2021/2022

The small business non-domestic rating multiplier for 2021/2022 is 49.9p per pound of the rateable value  (or 0.499) and the non-domestic rating multiplier is 51.2p (or 0.512)

2020/2021

The small business non-domestic rating multiplier for 2020/2021is 49.9p per pound of the rateable value  (or 0.499) and the non-domestic rating multiplier is 51.2p (or 0.512) 

2019/2020

The small business non-domestic rating multiplier for 2019/2020 is 49.1p per pound of the rateable value  (or 0.491) and the non-domestic rating multiplier is 50.4 (or 0.504)

2018/2019

The small business non-domestic rating multiplier for 2018/2019 is 48.0p per pound of the rateable value (or 0.480) and the non-domestic rating multiplier is 49.3 (or 0.493)

2017/2018

The small business non-domestic rating multiplier for 2017/2018 is 46.6p per pound of the rateable value  (or 0.466) and the non-domestic rating multiplier is 47.9 (or 0.479)

2016/2017

The small business non-domestic rating multiplier for 2016/2017 is 48.4p per pound of rateable value (or £0.484) and the draft non-domestic rating multiplier is 49.7p (or £0.497)

2015/2016

The small business non-domestic rating multiplier for 2015/2016 is 48.0p per pound of rateable value (or 0.481) and the non-domestic rating multiplier is 49.3p (or 0.493).

2014/2015

The small business non-domestic rating multiplier for 2014/2015 is 47.1p per pound of rateable value (or 0.471) and the non-domestic rating multiplier is 48.2p (or 0.482).

2013/2014

The small business non-domestic rating multiplier for 2013/2014 is 46.2p per pound of rateable value (or 0.462) and the non-domestic rating multiplier is 47.1p (or 0.471).

2012/2013

The small business non-domestic rating multiplier for 2012/2013 is 45.0p per pound of rateable value (or 0.450) and the non-domestic rating multiplier is 45.8p (or 0.4580).

2011/2012

The small business non-domestic rating multiplier for 2011/2012 is 42.6p per pound of rateable value (or 0.426) and the non-domestic rating multiplier is 43.3p (or 0.433)