About Business Rates

What are business rates?

Business rate is a tax on business properties that helps to pay for the borough's services. It is also called the National Non-Domestic Rate.

Business rates are payable by the occupier of a non-domestic property. This is normally the owner/occupier or the leaseholder of the property.

A tenant or leaseholder remains liable to pay business rates if the property is empty. See our empty business premises page for more information.

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How your business rates are worked out

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 two multipliers:

  • the small business multiplier for 2023/24 remains at 49.9p in the pound for occupied properties which have a rateable value below £51,000
  • the multiplier remains at 51.2p in the pound for empty properties and properties with a rateable value above £51,000 (this multiplier 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 comes 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.

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Business rates devolution

Since 1 April 2018, all 33 London local authorities and the Greater London Authority derive a greater proportion of their funding from business rates raised locally. London councils no longer receive Revenue Support Grant, the main grant distributed to English local authorities by the government.

This change will maintain the council’s expected revenue, while enabling the council to retain a greater proportion of the growth in Haringey’s business rates revenue. Haringey will retain 60% of growth in business rates paid by local businesses, with the remaining 40% going to the GLA to fund London-wide projects.

What does this mean for my business?

There will be no practical change to the way business rates are collected – the council will remain responsible for collecting rates by 1 April each year. Central Government also retains the power to set the rateable value of your business premises.

The change is an opportunity for the council and businesses to work together and invest more of your business rates in local economic growth, business priorities and communities. A growing, successful business community with a skilled local workforce will mean more money in the long-term to invest in local services and infrastructure for residents and businesses.

Where can I find out more?

Stay in the know

Haringey Business Bulletin

Sign up to the Haringey Business BulletinGet the latest news and updates straight into your mailbox:

Follow us on Twitter

Twitter iconThe council’s first ever Twitter account for businesses and entrepreneurs is here - follow us via @HGYBusiness (external link).

Page Last Updated:

March 13, 2023

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