How we work out your business rates
Business rates fact sheet
Every non-domestic property in England unless it is exempt has a rateable value. This figure broadly represents the yearly rent a property could have been let for on the open market on a particular date. The valuation office revalues properties every five years. For the revaluation that took effect from 1 April 2010, this date was set as 1 April 2008.
Each year (from April 2005), the government sets two multipliers or 'poundages'. The two multipliers are:
- the small business multiplier - applies to those who qualify for small business relief . For 2012/13 it has been set at 45.0 pence in the pound. For 2011/12 it was 42.6 pence in the pound.
- for everyone else for 2012/13 the standard multiplier has been set at 45.8 pence in the pound. For 2011/12 it was 43.3 pence in the pound.
These figures apply from the start of the rating year, and are the same for all non-domestic properties in England. The poundages are amended each year, but cannot increase by more than the rate of inflation.
We work out the yearly business rate bill for a property by multiplying the rateable value by the appropriate multiplier (shown on the front of the rates bill).
However, this figure may be affected by transitional adjustments, which limit the amount by which a bill can be increased or reduced compared with the previous year.
We explain transitional adjustments in more detail in another factsheet. See Transitional arrangements for more information.
Ways to contact us about business rates.
Page last updated: 08/05/2012
