Valuation Office Agency
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How you estimate your business rates depends on where your property is.
This guide is also available in Welsh (Cymraeg).
England or Wales
Find the rateable value of your business property. This is an estimate of its open market rental value on 1 April 2021.
Check the table to find out which multiplier to use. Use the standard multiplier if your rateable value is 51,000 or more. Use the small business multiplier if your rateable value is below 51,000.
Multiply your rateable value by your multiplier. This shows you how much you will have to pay in business rates (before any relief is deducted).
Take away any business rate relief that youre entitled to. If your business rates are increasing as a result of the 2023 revaluation, this may include transitional relief so that changes to your bill are phased in gradually.
| Year | Standard multiplier | Small business multiplier |
|---|---|---|
| 2024 to 2025 | 54.6 pence | 49.9 pence |
| 2023 to 2024 | 51.2 pence | 49.9 pence |
| 2022 to 2023 | 51.2 pence | 49.9 pence |
| 2021 to 2022 | 51.2 pence | 49.9 pence |
| 2020 to 2021 | 51.2 pence | 49.9 pence |
| 2019 to 2020 | 50.4 pence | 49.1 pence |
| 2018 to 2019 | 49.3 pence | 48.0 pence |
| 2017 to 2018 | 47.9 pence | 46.6 pence |
Before 2017 to 2018, use the small business multiplier if your rateable value is below 18,000 (25,500 in Greater London).
There are different multipliers if:
Example
Barbara has a business in England. The rateable value of her business property is 10,000, so she uses the 2023 to 2024 small business multiplier (49.9 pence) to estimate her business rates as follows:
10,000 (rateable value) x 0.499 pence (multiplier) = 4,990 (basic business rates)
As her rateable value is less than 15,000, she may be able to reduce her bill by applying for small business rate relief.
Scotland and Northern Ireland
Theres a different way to calculate business rates if: