Your bill is calculated by multiplying the rateable value by the
rating multiplier and then adjusted to take account of transitional
arrangements.
Rating multiplier
The non-domestic rating multiplier for the City of London is the
rate which the Common Council levies on each pound of rateable
value in order to raise the amount which it is required to pay into
the central pool and the amount which it retains to pay for its own
services.
For the financial year 2008-2009 the City Non-Domestic Rate
Multiplier is £0.466 and the City Small Business Non-Domestic Rate
Multiplier is £0.462.
Transitional arrangements
Transitional arrangements phase in the effect of significant
changes in liability that arise from the 2005 revaluation of
non-domestic property. Where appropriate, these arrangements will
operate until March 2009. There are limits on the percentage by
which bills may increase or decrease each year. Special rules deal
with changes in rateable values and the merger or splitting of
existing properties.
Further information is available on the
DCLG (Department for Communities and Local
Government) website .
For further information about Business Rates
download the Non Domestic Rates Explanatory Notes
2008/2009 (21kb)
Council Tax & Non-Domestic Rate Booklet for
Year Ending 31 March 2009 (1mb)