Business Rates Multipliers

Each year, the government set two multipliers:

  • the Standard Multiplier for businesses
  • the Small Business Multiplier for small businesses

Business rates for a property are then calculated by multiplying its rateable value by the relevant multiplier.

The 2023/24 multipliers are:

  Standard Multiplier Small Business Multiplier
2023/24 51.2p 49.9p

Multipliers from previous years

  Standard Multiplier Small Business Multiplier
2022/23 51.2p 49.9p
2021/22 51.2p 49.9p
2020/21 51.2p 49.9p
2019/20 50.4p 49.1p
2018/19 49.3p 48p
2017/18 49.9p 46.6p
2016/17 49.7p 48.4p