Business rates

Autumn budget 2021

On Wednesday 27 October, the Chancellor confirmed the following in the autumn budget 2021:

• more frequent revaluations - these will be increased to a 3 yearly cycle from 2023
• a green investment relief - a freeze on business rate increases will be introduced in relation to ‘green investment’
• an improvement relief - from 2023, business rate increases will be delayed for one year in relation to certain improvements to non-domestic property
• a multiplier freeze - the NDR multiplier will be frozen further, with next year’s planned increase cancelled
• a retail, hospitality and leisure discount - a discount of 50% up to a maximum value of £110,000 on rates for retail, hospitality and leisure properties will apply for 1 year.

Until formal guidance is issued by the government, we are unable to answer any queries about any of these announcements. The guidance will be posted here once it has been received.

2022 to 2023 Business rate multipliers

Small business rate multiplier: 49.9 pence in the pound.

Standard rate multiplier: 51.2 pence in the pound.

Crossrail business rate supplement (BRS) - 2022 to 2023

For properties with a rateable value of more than £70,000, the GLA has levied a business rate supplement of 2p per pound of rateable value to contribute towards the cost of Crossrail. For more information visit,  paying for Crossrail: business rate supplement.

Rating advisers

Ratepayers do not have to be represented in discussions about their rateable value, their rates bill or applying for discounts and reliefs. However, ratepayers who do wish to be represented should be aware that members of the Royal Institution of Chartered Surveyors (RICS) and the Institute of Revenues, Rating and Valuation (IRRV) are qualified and are regulated by rules of professional conduct designed to protect the public from misconduct.

Before you employ a rating adviser, you should check that they have the necessary knowledge and expertise, as well as appropriate indemnity insurance. Take great care and, if necessary, seek further advice before entering into any contract. 

Want to know more?

For more information visit the business rates section on GOV.UK or contact us about business rates.

View rateable values on the GOV.UK website.