Business Rates

How are Business Rates Calculated? Business Rates are calculated by multiplying the “rateable value” (RV) of the commercial property by the “business rate multiplier”. For e.g., if your commercial property’s rateable value is £28,000 per annum, your business rates will be calculated as follows. £28,000 (RV) X 49.9 pence (0.499) (business rates multiplier for 2021-22): £13,972 (payable...

Small Business Rate Relief (SBRR) You can get 100% business rate relief if the rateable value of the business premises is less than £12,000 If the rateable value is between £12,001 to £15,000, you can still get rate relief, but it varies. For e.g., if the rateable value is £14,000 you could get 33% discount. If the rateable value is £13,500, you could get 50% discount.   What...