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 2025/26 the multipliers are:

• small business multiplier: 49.9p
• standard multiplier: 55.5p

As announced in the Autumn Budget for 2024:

• The Small Business Multiplier will be frozen at 0.499 for 2025 / 2026
• Retail, Leisure & Hospitality Discount drops to 40%, up to a cash cap of £110,000 for 2025 / 2026
• From 2026 / 2027 the business rates multiplier will be permanently lowered for Retail, Leisure & Hospitality properties, paid for by a higher multiplier for properties with rateable values over 500,000
• Private schools will no longer qualify for Charitable Rate Relief from 1 April 2025.

  Autumn Budget 2024

   

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)