Your premises will be given a rateable value by the Valuation Office Agency which we will use to calculate how much you should pay.
The rateable value is then multiplied the appropriate figure set annually by central government (known as the multiplier) to calculate the rates payable.The multiplier is set for the whole of England and is effective from the first of April each year.
There are two multipliers for 2023-24:
- The standard non-domestic rating multiplier which is 51.2p in the pound.
- The small business non-domestic rating multiplier which is 49.9p in the pound.
The government reviews the multiplier each year in line with inflation. By law, the multiplier cannot increase by more than the rate of inflation, apart from minor adjustments to counteract losses from appeals and, in relation to the standard multiplier, to pay for small business rate relief. The current multiplier is shown on your bill.
