Business Rates
What is the National Non-Domestic Rating Multiplier?
What is the National Non-Domestic Rating Multiplier?
The national non-domestic rating multiplier is the rate in the pound that is then multiplied by the rateable value of a property to produce the annual rates bill. It is set each year by the Government and cannot rise by more than the increase in the retail prices index, except in a revaluation year.
The multipliers for each financial year from 2010/11 are as follows:
|
Financial Year |
Multiplier |
|
|
2010/11 |
41.4p |
|
|
2011/12 |
43.3p |
|
|
2012/13 |
45.8p |
|
|
2013/14 |
47.1p |
|
|
2014/15 |
48.2p |
|
|
2015/16 |
49.3p |
|
|
2016//17 |
49.7p |
|
|
2017/18 |
47.9p |
|
|
2018/19 |
49.3p |
|
|
2019/20 |
50.4p |
|
|
2020/21 |
51.2p |
|
|
2021/22 |
51.2p |
|
|
2022/23 |
51.2p |
|
|
2023/24 |
51.2p |
|
If the ratepayer qualifies for Small Business Rates Relief they will pay on the following multiplier:
|
Financial Year |
Multiplier |
|
2010/11 |
40.7p |
|
2011/12 |
42.6p |
|
2012/13 |
45.0p |
|
2013/14 |
46.2p |
|
2014/15 |
47.1p |
|
2015/16 |
48.0p |
|
2016//17 |
48.4p |
|
2017/18 |
46.6p |
|
2018/19 |
48.0p |
|
2019/20 |
49.1p |
|
2020/21 |
49.9p |
|
2021/22 |
49.9p |
|
2022/23 |
49.9p |
|
2023/24 |
49.9p |
Last updated Tuesday, 28th March 2023
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