How business rates are calculated
Your business rates bill is calculated by multiplying your rateable value by a Multiplier or Uniform Business Rate. Central government sets the Multiplier. The Multiplier cannot rise by more than the rate of inflation unless it is a revaluation year.
In London, there is also a business rate supplement to pay towards the Crossrail Project. The supplement applies to premises with a rateable value in excess of £75,000 for 2023/24 and a multiplier of 0.02 is used to calculate the Business Rates Supplement in such instances.
- Small multiplier: 0.499
- Large multiplier: 0.512