The amount you pay in Business Rates is based on your property's rateable value. The rateable value is calculated by the Valuation Office Agency.
Your Business Rates bill is calculated by multiplying the rateable value of the property by the "rate multiplier". There are two rate multipliers for 2016/2017.
The Small Business Multiplier - applies to business premises with a rateable value of less than £18,000: 0.484 (48.4 pence in the pound)
The Standard Multiplier - applie to all other businesses: 0.497 (49.7 pence in the pound)