How business rates are calculated

Your bill is calculated by multiplying the rateable value of the property by the rate multiplier or ‘poundage’, which the government sets from the 1 April each year.

There are 2 multipliers:

• the small business multiplier for occupied properties which have a rateable value below £51,000 – for 2024/25 this is 49.9p in the pound
• the multiplier for empty properties and properties with a rateable value above £51,000 – this is 56.4p in the pound and includes a supplement to pay for small business rate relief

The amount your bill may increase or decrease by each year, is limited by the transitional scheme set by the government following the last general revaluation that came into effect from 1 April 2023. This is worked out automatically and will show on your bill.

For details of the multipliers for previous years see our business rate multipliers page.