Business Rates

The Multiplier

The gross business rates bill is calculated by multiplying the property's rateable value by the multiplier which the government sets each year.

By law the multiplier cannot go up by more than the rate of inflation, except in a revaluation year.

In a revaluation year, the multiplier is set at a rate which will keep the total amount raised in business rates after the revaluation the same as it was before, plus inflation for that year.

2001-2002 = 43.0p
2002-2003 = 43.7p
2003-2004 = 44.4p
2004-2005 = 45.6p
2005-2006 = 41.5p. The bills of businesses that do not receive Small Business Rate Relief are calculated using a multiplier of 42.2p
2006-2007 = 42.6p. The bills of businesses that do not receive Small Business Rate Relief are calculated using a multiplier of 43.3p
2007-2008 = 44.1p. The bills of businesses that do not receive Small Business Rate Relief are calculated using a multiplier of 44.4p