Business Rates

The business rate is calculated by multiplying the rateable value of property by the standard or small business rating multiplier. The government sets the rating multiplier. For 2023-2024 the multipliers are: 

• small business multiplier: 49.9p
• standard multiplier: 51.2p

For 2024/25 the multipliers are:

• small business multiplier: 49.9p
• standard multiplier: 54.6p

The Valuation Office Agency assess the rateable value of a property. They revalue all properties periodically to ensure the Rating List keeps pace with changing property values. The current Rating List came into force on 1 April 2023.  The next Rating List is due to come into force on 1 April 2026.

If your require further information please check out this introduction to business rates. (Opens in a New Window)

To check the rateable value of a property please visit the Valuation Office Agency's website. (Opens in a New Window)