How we work out your business rates

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.

What your business rates multiplier is

There are two new retail, hospitality and leisure multipliers for 2026 to 2027, as well as a high-value multiplier for properties with a rateable value of £500,000 or more.

This means the multipliers are:

• Standard business properties with a rateable value of £51,000 or less - 43.2p
• Standard business properties with a rateable value of more than £51,000 - 48.0p
• High-value multiplier for properties with a rateable value of £500,000 or more - 50.8p
• Retail, hospitality and leisure properties with a rateable value of £51,000 or less - 38.2p
• Retail, hospitality and leisure properties with a rateable value of more than £51,000 - 43.0p

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.