An Overview of How Business Rates are Calculated
Taking the rateable value and multiplying
this figure by the annual multiplier gives the gross amount of
business rates payable for the year.
Business
Rates Rateable Value & the Multiplier
The
rateable value of non-domestic property and the National
Non-Domestic Rating Multiplier
Rateable Value
From
1 April 2005, the rateable value of a property represents the
yearly rent it would have expected to bring on the open market on 1
April 2003.
The Multiplier
The
non-domestic rating multiplier is the amount by which the rateable
value of a property is multiplied to produce the year's rates
bill.
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