Amount you're charged
Business rates are calculated by multiplying the rateable value of your business property and the business rates multiplier.
Multipliers are reviewed every year.
Business rates multipliers
The business rates multipliers for 2024–2025 are the same as the previous year:
- 49.9p for small business
- 54.6p for other businesses
Assessing your rates
The rateable value of a property is assessed by the Valuation Office Agency (VOA). It's usually an assessment of the annual rent of the property if it were available to let on the open market on 1 April 2021.
The VOA regularly reassess and update the rateable values of all business properties, usually every 3 years. This is called a revaluation and is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market.
You can request changes to property or valuation details if you think they’re wrong.