How your business rates are worked out

The amount you pay in business rates is based on your property's rateable value. The rateable value is calculated by the Valuation Office Agency. Your business rates bill is calculated by multiplying the rateable value of the property by the 'rate multiplier'. There are two rate multipliers for 2016-17:

  • The small business multiplier, which applies to business premises with a rateable value of less than £18,000: 0.480 (48.0 pence in the pound)
  • The standard multiplier, which applies to all other businesses: 0.493 (49.3 pence in the pound)

Find out more about how your bill is calculated

2010 Revaluation

The Valuation Office Agency revalues properties for business rates periodically. The last revaluation came into effect on 1 April 2010, the next revaluation will be in 2017. To find out more visit Gov.UK - Business Rates, Revaluation