Business Rate Multipliers
We work out your Business Rate bill by multiplying the Rateable Value (see Revaluation 2017 and Transitional Arrangements) of the property by the rate multiplier or ‘poundage’, which the Government sets from the 1 April each year.
There are two multipliers. For properties which qualify for small business rate relief the multiplier for 2023/24 remains at 49.9p in the pound. For properties which do not qualify, the multiplier remains at 51.2p in the pound, which includes a supplement to pay for small business rate relief.
For details of the multipliers for previous years, please see below:
| Financial Year | Multiplier | Small Business Rate Relief Qualifiers |
|---|---|---|
| 2023/24 | 0.512 | 0.499 |
| 2022/23 | 0.512 | 0.499 |
| 2021/22 | 0.512 | 0.499 |
| 2020/21 | 0.512 | 0.499 |
| 2019/20 | 0.504 | 0.491 |
| 2018/19 | 0.493 | 0.480 |
| 2017/18 | 0.479 | 0.466 |
| 2016/17 | 0.497 | 0.484 |
| 2015/16 | 0.493 | 0.480 |
| 2014/15 | 0.482 | 0.471 |
| 2013/14 | 0.471 | 0.462 |
| 2012/13 | 0.458 | 0.450 |
| 2011/12 | 0.433 | 0.426 |
| 2010/11 | 0.414 | 0.407 |
| 2009/10 | 0.485 | 0.481 |
| 2008/09 | 0.462 | 0.458 |
| 2007/08 | 0.444 | 0.441 |
| 2006/07 | 0.433 | 0.426 |
| 2005/06 | 0.422 | 0.415 |
| 2004/05 | 0.456 | - |
| 2003/04 | 0.444 | - |
| 2002/03 | 0.437 | - |
| 2001/02 | 0.430 | - |
| 2000/01 | 0.416 | - |
| 1999/00 | 0.489 | - |
| 1998/99 | 0.474 | - |
| 1997/98 | 0.458 | - |
| 1996/97 | 0.449 | - |
| 1995/96 | 0.432 | - |
| 1994/95 | 0.423 | - |
| 1993/94 | 0.416 | - |
| 1992/93 | 0.402 | - |
| 1991/92 | 0.386 | - |
| 1990/91 | 0.348 | - |
Revaluation 2017 and Transitional Arrangements
All rateable values are reassessed at a general revaluation. The most recent revaluation took effect from 1 April 2017. Revaluations make sure each ratepayer pays their fair contribution and no more, by ensuring that the share of national rates bill paid by any one ratepayer reflects changes over time in the value of their property relative to others. Revaluation does not raise extra money for Government.
A £3.6 billion transitional relief scheme limits changes in rate bills as a result of the 2017 revaluation. To help pay for the limits on increases in bills, there are also limits on reductions in bills. Under the transitional scheme, limits continue to apply to yearly increases and decreases until the full amount is due (rateable value times the appropriate multiplier).
The scheme applies only to the bill based on a property at the time of the revaluation. If there are any changes to the property after 1st April 2017, transitional arrangements will not normally apply to the part of a bill that relates to any increase in rateable value due to those changes. Changes to your bill as a result of other reasons (such as changes to the amount of small business rate relief) are not covered by the transitional arrangements.
The transitional arrangements are applied automatically and are shown on the front of your bill.
- Further information about transitional arrangements and other reliefs can be obtained from the council or at GOV.UK (external link)
- More information on the 2017 revaluation can be found at GOV.UK (external link)