How are business rates set?
The council works out your business rates bill by multiplying the rateable value (RV) of the property by the appropriate multiplier. There are two multipliers:
- The standard non-domestic rating multiplier (NDR) (usually higher, to pay for small business rate relief).
- The small business non-domestic rating multiplier (SBRR).
The multipliers for each financial year for the whole of England are set by the government according to formulae set by legislation.
Between revaluations, the multipliers generally change each year in line with the Retail Price Index in September of the previous year and to take account of the cost of small business rate relief.
NDR RV multiplier
| 2017/18 | 2018/19 | 2019/20 | 2020/21 | 2021/22 | 2022/23 | 2023/24 | |
|---|---|---|---|---|---|---|---|
| Regular | 47.9 | 49.3 | 50.4 | 51.2 | 51.2 | 51.2 | 51.2 |
| SBBR | 46.6 | 48.0 | 49.1 | 49.9 | 49.9 | 49.9 | 49.9 |