How your bill is calculated
Every property has a rateable value, which is decided by the Valuation Office Agency (VOA). You can find your property’s Business Rates valuation on GOV.UK. The rateable value is based on an estimate by the VOA of your property's open market rental value on a certain date.
To work out your Business Rates, we multiply the rateable value of your property by the appropriate multiplier. There are two multipliers:
- standard multiplier - used if your rateable value is £51,000 or more
- small business multiplier - used if your rateable value is under £51,000
The multipliers usually change every year in line with inflation. You can find the current multipliers on GOV.UK.
If you have any questions about your rateable value or you want to challenge it, you should contact the VOA. We do not set valuations, and we do not have the power to change them. Visit GOV.UK to find out how to check and challenge your business rates valuation.
2023 revaluation of Business Rates
The Valuation Office Agency determines rateable values at set intervals. The most recent revaluation came into effect on 1 April 2023.
For more information about these changes, visit the Business Rates revaluation page on GOV.UK.