Business rates depends on your business property’s rateable value. The Valuation Office Agency set rateable values.
Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 valuation, that date was 1 April 2021. The VOA use these rateable values to calculate business rates bills. Revaluations are carried out to reflect changes in the property market, which means that business rates bills are based on more up-to-date information.
The next revaluation will come into effect on 1 April 2023.
We show the rateable value of your property on the front of your bill.
You can look at GOV.UK to find out how the Valuation Office Agency calculates rateable values for Business rates.
For help with your business rates, you can also read our guidance notes.
Appeal your rateable value
You can find out your rateable value on GOV.UK
If you disagree with your rateable value, you can appeal. you can look at GOV.UK for information about who can appeal and how to appeal .
You can also look at GOV.UK for information on scams relating to appealing your rateable value .
We can only change your Business rate bill from the date the Valuation Office Agency update the rateable value of your property.
National Non-Domestic Rating Multiplier
We use the national non-domestic rating multiplier to work out your Business rates.
We calculate your bill by multiplying the rateable value of your property by the multiplier.
The national non-domestic multipliers for 2023/24 are:
- 51.2p for the standard multiplier
- 49.9p for the small business multiplier
If your property has a rateable value below £51,000, we will calculate your bill using the small business multiplier.
You can contact our Business rates team if you have any questions about how we have calculated your bill.