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Business rates explained

Your business rates are worked out each year by taking a property's rateable value and multiplying it by the 'multiplier' which is a figure set by the government.

What rateable value means

All properties which aren't homes have a rateable value as a way of measuring how valuable the property is.

The rateable value is an estimate of how much yearly rent the property could earn on a particular date. The date of valuation is set by the government and is currently the 1 April 2017.

The next valuation will be in 2023.

Read more about the 2017 revaluation on GOV.UK

Rateable values are calculated by the Valuation Office Agency, who are part of HM Revenues and Customs.

How the multiplier works

The standard multiplier for 2020 to 2021 was 51.2p. The Government has confirmed that the multiplier will remain at this rate for 2021 to 2022.

So for example, if your rateable value is £100,000.00 we would multiply this by 51.2p and your bill for the year would be £51,200.00.

Each year on 1 April the multiplier is increased by the government and is set in line with inflation. At the November 2020 spending review the Government confirmed that it would freeze the multiplier for 2021 to 2022.

How the rateable value can change

The rateable value of a property may change if any physical changes are made to the building your business is in, for example if you built or demolished an extension. 

Let us know if anything changes as soon as possible as this may affect the amount you pay in business rates.

Check, Challenge and Appeal

You have the right to check, challenge and appeal your rateable value with the Valuation Office Agency if you think it's too high. You can do this even if there haven't been any changes to the property or your business.

To do this please contact the local Valuation Office Agency on 03000 501501 or through their website at 

For more information on business rates visit  Business rates at or read our  Business rates explanatory notes [231KB]