Estimate your business rates
How you estimate your business rates depends on where your property is.
This guide is also available in Welsh (Cymraeg).
England or Wales
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Find the rateable value of your business property. This is an estimate of its open market rental value on 1 April 2021.
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Check the table to find out which ‘multiplier’ to use. Use the standard multiplier if your rateable value is £51,000 or more. Use the small business multiplier if your rateable value is below £51,000.
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Multiply your rateable value by your multiplier. This shows you how much you will have to pay in business rates (before any relief is deducted).
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Take away any business rate relief that you’re entitled to. If your business rates are increasing as a result of the 2023 revaluation, this may include transitional relief so that changes to your bill are phased in gradually.
| Year | Standard multiplier | Small business multiplier |
|---|---|---|
| 2024 to 2025 | 54.6 pence | 49.9 pence |
| 2023 to 2024 | 51.2 pence | 49.9 pence |
| 2022 to 2023 | 51.2 pence | 49.9 pence |
| 2021 to 2022 | 51.2 pence | 49.9 pence |
| 2020 to 2021 | 51.2 pence | 49.9 pence |
| 2019 to 2020 | 50.4 pence | 49.1 pence |
| 2018 to 2019 | 49.3 pence | 48.0 pence |
| 2017 to 2018 | 47.9 pence | 46.6 pence |
Before 2017 to 2018, use the small business multiplier if your rateable value is below £18,000 (£25,500 in Greater London).
There are different multipliers if:
Example
Barbara has a business in England. The rateable value of her business property is £10,000, so she uses the 2023 to 2024 small business multiplier (49.9 pence) to estimate her business rates as follows:
£10,000 (rateable value) x £0.499 pence (multiplier) = £4,990 (basic business rates)
As her rateable value is less than £15,000, she may be able to reduce her bill by applying for small business rate relief.
Scotland and Northern Ireland
There’s a different way to calculate business rates if: