How we work out your business rates

Find out how we work out how much you need to pay for your business.

We work out business rates based on your property's 'rateable value'. 

A rateable value is the amount of rent a property could have been let for on 1 April 2021.

The standard business rates multiplier for 2025 to 2026 is 55.5 pence. The small business multiplier is 49.9 pence.

The Valuation Office Agency (VOA) regularly update the rateable values of all businesses and other non-domestic properties in England and Wales. This is called a revaluation. Revaluations are carried out to reflect changes in the property market; meaning that business rates bills are based on up-to-date information.

You can use the GOV.UK tool to estimate your business rates each year.

If you think your rateable value is too high

If you think your rateable value is wrong, you will need to use your business rates valuation account to tell the VOA. You must pay your business rates as normal until a decision has been made.

If your property details change

You can also use your valuation account to tell them about changes to your property, like the floor area or parking. They might accept your changes and update their current and future valuations.

You can visit the VOA website for more information on revaluations.

Business rates multipliers for previous years

  • For 2024 to 2025, the standard multiplier was 54.6 pence and the small business multiplier was 49.9 pence.
  • For 2023 to 2024, the standard multiplier was 51.2 pence and the small business multiplier was 49.9 pence.
  • For 2022 to 2023, the standard multiplier was 51.2 pence and the small business multiplier was 49.9 pence.
  • For 2021 to 2022, the standard multiplier was 51.2 pence and the small business multiplier was 49.9 pence.