Rating multipliers
The government sets business rate multipliers for each financial year for the whole of England according to formulae set by legislation. This does not apply in revaluation years when the multiplier will be adjusted to reflect changes in the overall total of rateable values for England.
For 2024/25 the two multipliers are as follows:
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the standard non-domestic rating multiplier is 54.6p
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the small business non-domestic rating multiplier is 49.9p
For 2023/24 the two multipliers were as follows:
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the standard non-domestic rating multiplier is 51.2p
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the small business non-domestic rating multiplier is 49.9p
The former is higher to pay for small business rate relief. We work out the business rates bill by multiplying the rateable value of the property by the appropriate multiplier.
Ratepayers who occupy a property with a rateable value which does not exceed £50,999 (and who are not entitled to certain other mandatory relief(s) or are liable for unoccupied property rates) will have their bills calculated using the lower small business non-domestic rate multiplier, rather than the national non-domestic rating multiplier. The multiplier for a financial year is based on the previous year's multiplier adjusted to reflect the Consumer Price Index (CPI) inflation figure for the September prior to the billing year.
The current multipliers are shown on the front of your bill.
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