The local council works out the business rates bill by multiplying the rateable value of the property by the appropriate multiplier set by the government.
There are two multipliers:
- the standard non-domestic rating multiplier
- the small business non-domestic rating multiplier
Ratepayers who occupy a property with a rateable value which does not exceed £50,999 will have their bills calculated using the lower small business non-domestic rating multiplier, rather than the standard non-domestic rating multiplier.
Both multipliers for a financial year are 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, unless a lower multiplier is set by the government. The current multipliers are shown on the front of your bill.