For information concerning business rates and rateable values of a particular property we recommend the following website:
Valuation Office
www.voa.gov.uk
What are the current multipliers?
The multiplier is used by the local authority when calculating the business rates. It indicates the percentage or pence in the pound, of the rateable value that is paid in business rates.
Standard Small Business
2019/20 0.504 0.491
2018/19 0.493 0.48
2017/18 0.479 0.466
2016/17 0.497 0.484
Ratepayers who occupy a property with a rateable value which does not exceed £17,999 outside London or £25,499 in London will have their bill calculated using the lower small business non domestic rating multiplier, rather than the national non domestic rating multiplier.
In addition, if the sole or main property is shown on the rating list with a rateable value which does not exceed £15,000, the ratepayer will receive a percentage reduction in their rates bill for this property of up to a maximum of 50% for a property with a rateable value of not more than £6,000.
This percentage reduction is only available to ratepayers who occupy either:
(a) one property, or
(b) one main property and other additional properties providing those additional properties each have a rateable value which does not exceed £2,599.
The relief does not apply to empty properties.
From 1st April 2019, a two year rates relief will apply to some retail properties including retail shops and restaurants but NOT to Estate Agents, Banks or Pawn Brokers.
We recommend that interested parties looking/seeking to take a premises should check their business rates prior to agreeing /signing a lease, in order to completely satisfy their enquiries.