The basic calculation involves multiplying the Rateable Value of the property by the multiplier or rate poundage, which is set annually by the Government. The Rateable Value is set by The Valuation Office Agency.
The multiplier is set each year by the Government and cannot, by law, rise by more than the amount of the increase in the retail price index (except immediately following a revaluation).
There are different multipliers for different sized properties.
To find out the multiplier that applies to your property please go to The Valuation Office Agency website.
There are other factors which may affect the amount you actually have to pay, including schemes covering:
For more information on how the Rateable Value is charged, please see our What are Business Rates page.
Please see our Revaluation of Business Rates page for more information.
For further details on the revaluation, including your current Rateable Value, please go to the Valuation Office Agency list of business rates valuations.