The following multipliers will be used to calculate the nondomestic
Rate amounts payable for 2023/24.
- Small business multiplier – 49.9p (0.499)
- Standard multiplier – 51.2p (0.512)
The standard multiplier will be used:
- for all occupied property with a rateable value above £51,000
- for all empty property regardless of rateable value
- if the ratepayer is entitled to a mandatory relief
All occupied properties with a rateable value of less than £51,000 will have their bill calculated using the lower multiplier (except those attracting mandatory relief).
The Valuation Office Agency, part of HM Revenues and Customs, is responsible for the assessment of a property’s rateable value. This is an assessment of the rent the property would get if it were available to let on the open market at a fixed valuation date. The 2023 rating list is effective from 1 April 2023, with rateable values based on a valuation date of 1 April 2021.
Paying your bill
You can choose to pay your non-domestic rate over 12 instalments from April to March. If you do not already do so and would like to, you will need to contact us. If you change to 12 monthly instalments during the year, we will give you the maximum number of instalments remaining in the current financial year. Please note that there is a minimum instalment amount of £50 per month, or one instalment if your bill is £100 or less – if this applies to your bill, payment cannot be made over 12 months.
There may be a significant change to a rateable value following a revaluation, so there are transitional arrangements that help to phase in the effect of such changes. As a result, if there is a large increase in the rateable value, the change is restricted. Transitional relief limits the percentage your bill can be increased each year following a revaluation; transitional relief will apply until the full amount is due. Transitional relief will be calculated automatically, and displayed on your bill. For more information please see Business rates relief.
2023/24 Retail, Hospitality and Leisure Relief Scheme
The 2023/24 Retail, Hospitality and Leisure relief scheme provides eligible occupied retail, hospitality, and leisure properties with 75% relief, up to a cash cap of £110,000 per business. Relief will be automatically provided to eligible business rate accounts. For more information, please see the Business Rates Relief: 2023/24 Retail, Hospitality and Leisure Scheme guidance.
Under the cash cap, no ratepayer can (in any circumstances) exceed the £110,000 cash cap across all of their properties in England. Where a ratepayer has a qualifying connection with another ratepayer then those ratepayers should be considered as one ratepayer for the purposes of the cash cap. The Retail Hospitality and Leisure Scheme is likely to amount to subsidy.
Any relief provided by Local Authorities under this scheme will need to comply with the UK’s domestic and international subsidy control obligations.
If you believe you are eligible for the 2023/24 Retail, Hospitality and Leisure Relief Scheme, but this relief has not been awarded to your business rates account, please contact us at: firstname.lastname@example.org
Extension to the Supporting Small Businesses Relief
Ratepayers losing Small Business Rate Relief as a result of the 2023 revaluation will have their increases limited to a cash value of £600 per year, until they reach the bill they would have paid without the relief, or where entitlement to the relief ends.
The relief will be automatically awarded to ratepayers. A change of ratepayer will not affect eligibility for this scheme but eligibility will be lost if the property becomes:
- Vacant, or
- Occupied by a charity or Community Amateur Sports Club. Please note that Charities and Community Amateur Sports Clubs, who are already entitled to mandatory 80% relief, are not eligible for 2023 Supporting Small Business Relief.