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How your rates are calculated

Your rates bill is calculated by applying a multiplier to the rateable value of the premises.

Rateable value
Is set by the Valuation Office Agency (VOA). The rateable value broadly represents the annual rent the property could have been let for on the open market on a set date. The set date for the list which is used from 1 April 2010 is 1 April 2008. Revaluations are carried out every five years. The rateable value is the figure around which your annual rates bill is calculated.

The VOA website publishes a breakdown of some rateable values.

This is an extremely useful way of seeing how the rateable value of your premises was arrived at. The VOA website also contains information on the grounds for making an appeal.

To make an appeal against your rateable value you do not have to be represented by a rating adviser. The appeals process is free and you may appeal on line using the VOA website. If you wish to be represented you should take great care when appointing a rating advisor. You should check that they are knowledgeable and experienced and have appropriate indemnity insurance.
Members of the Royal Institution of Chartered Surveyors (RICS) and members of Institute of Revenues, Rating and Valuation (IRRV) are qualified and regulated by rules of professional conduct.

Multiplier
The multiplier is a figure set by the Government from 1st April each year. The business rates bill is calculated by applying this multiplier to the rateable value.

The Government normally changes the multiplier every year to move in line with inflation. By law, the multiplier cannot go up by more than the rate of inflation, except in the year of a revaluation when it is set at a level which will keep the total amount raised in rates after the revaluation the same as before, plus inflation for that year.

Since 2005 a small business multiplier can be used for properties with a rateable value below £15,000. From 1 April 2010 the small business rate multiplier can be used for properties with a rateable values below £18,000.

For more information see the rate relief page

Non-Domestic Rating Multipliers

Year Commencing April 1st	Multiplier in Pence
2005 (revaluation year)	42.2 Standard multiplier 41.5 Small business rate multiplier
2006	43.3 Standard multiplier 42.6 Small business rate multiplier
2007	44.4 Standard multiplier 44.1 Small business rate multiplier
2008	46.2 Standard multiplier 45.8 Small business rate multiplier
2009	48.5 Standard multiplier 48.1 Small business rate multiplier
2010 (revaluation year)	41.4 Standard multiplier 40.7 Small business rate multiplier
2011	43.3 Standard multiplier 42.6 Small business rate multiplier

Some businesses may be eligible for rate relief.

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Last reviewed 08 December 2011

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