Business Rates: Frequently Asked Questions

The local Valuation Officer has set a rateable value for each non-domestic assessment in this borough (currently based on 2003 rental values) and the Government sets the "multiplier" each year. From 1 April 2005 there are two multipliers - the standard non-domestic multiplier of 42.2p and the small business non-domestic rating multiplier of 41.5p. This multiplier will generally rise by the rate of inflation each year. The rateable value multiplied by the multiplier is usually the amount payable for the year except where Transitional Relief applies.