Calculation of Business Rates
The local authority works out the Business Rates bill by multiplying the rateable value of the property by the appropriate multiplier.
The two multipliers for 2010/11 are: the standard non-domestic rating multiplier, which is 43.3p, and the small business non-domestic rating multiplier, which is 42.6p. The former is higher to pay for small business rate relief.
The Government sets the multipliers for each financial year for the whole of England. The Government normally changes both multipliers every year in line with inflation. By law, the mulitipliers cannot go up by more than the rate of inflation apart from some minor adjustments to counteract losses from appeals and, in relation to the standard multiplier, to pay for small business rate relief. In the year of a revaluation it is set at a level which will keep the total amount raised in rates after the revaluation the same as before, plus inflation for that year. The current mulitpliers are shown on the front of your bill.