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How your bill is calculated

Date updated: 29/04/2022

Your bill is calculated by multiplying the rateable value by the rating multiplier and then adjusted to take account of transitional arrangements.

Rating multiplier

For 2022/23, the Government has set two multipliers: the Small Business Non-Domestic Rate Multiplier of 0.499 and the National Non-Domestic Rate Multiplier of 0.512. The City's multipliers have been set at 0.511 (51.1p in the £) for small businesses and 0.524 (52.4p in the £) for other businesses. These are comprised of the multipliers set by the Government and a premium of 0.012 levied to provide additional funding for the Police Service, security, resilience and contingency planning in the City.

Business rates supplement

The Greater London Authority is levying a business rate supplement of £0.02 is on all properties with a rateable value of more than £70,000, in relation to its contribution to the Crossrail project.

Further information is available from Greater London Authority's Funding for Crossrail.

Transitional arrangements

Due to circumstances beyond our control a small number of 2022/23 Business Rates demands have been sent out without transitional relief applied to relevant cases. This relief will be applied in the coming weeks and a revised bill will be issued. If you think that you are affected by this, please contact the Business Rates team clearly marking your email in the subject line ‘Transitional Relief 22/23’ to clarify the position.

 

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