National Non Domestic Rating Multiplier
We work out a rates bill by multiplying the rateable value of the property by the multiplier or ‘poundage’ which the Government sets from 1 April each year for the whole of England.
The Government normally changes the multiplier every year to move in line with inflation. By law, the multiplier cannot go up by more than the rate of inflation, except in the year of a revaluation when it is set at a level which will keep the total amount raised after the revaluation the same as before, plus inflation for that year. Such a revaluation came into effect from 1 April 2005 – the next revaluation will come into effect on 1 April 2010.
The temporary rateable value threshold below which empty properties are exempt will revert to £2600 with effect from 1st April 2011.
Multipliers for 2012/2013
- The standard multiplier is 45.8p
- The lower multiplier is 45.0p for businesses that qualify for Small Business Rate Relief.
Multipliers for 2011/12
- The standard multiplier is 43.3p
- The lower multiplier is 42.6p for businesses that qualify for Small Business Rate Relief.
Multipliers for 2010/11
The standard multiplier is 41.4p
The lower multiplier is 40.7p for businesses that qualify for Small Business Rate Relief.