Apart from properties that are exempt from business rates, each non-domestic property has a rateable value which is normally set by the Valuation Office Agency (VOA). It draws up and maintains a full list of all rateable values. The rateable value of your property will be shown on the front of your 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 2010, this date was set as 1 April 2008. 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. 

Appeals

The rate payer, (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 using the VOA’s Check, Challenge and Appeal process. Find and correct your business rates valuation.

National non-domestic rating multiplier

The council calculates the business rates bill by multiplying the rateable value of the property by the multiplier or ‘poundage’, which the Government sets from 1st April each year for the whole of England. This amount, however, may vary because of the affects of the transitional scheme. The Government normally changes the multiplier every year to move in line with inflation. By law, the multiplier cannot go up by more than the rate of inflation, except in the year of a revaluation when 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.

For 2015/2016

  • 49.3 (standard multiplier)
  • 48.0 (small business multiplier)

For 2016/2017

  • 49.7 (standard multiplier)
  • 48.4 (small business multiplier)

For 2017/2018

  • 47.9 (standard multiplier)
  • 46.6 (small business multiplier)

For 2018/2019

  • 49.3 (standard multiplier)
  • 48.0 (small business multiplier)

For 2019/2020

  • 50.4 (standard multiplier)
  • 49.1 (small business multiplier)