Business Rates 2024/25
Multiplier 2024/25
Small business non-domestic rating multiplier 49.9p (0.499)
Non-domestic rating multiplier 54.6p (0.546)
Transitional Relief Scheme
Transitional Relief supports properties by capping bill increases caused by changes in rateable values at the 2023 revaluation. The “upward caps” will be 10%, 25% and 40% respectively for small properties (RV up to £20,000), medium properties (RV between £20,001 and £100,000) and large properties (RV greater than £100,000) in 2024-25 and will be applied before any other reliefs or supplements. Properties with reductions in rateable values at the 2023 revaluation will have seen the full benefit of that reduction in their new business rates bill from 1 April 2023.
Retail, Hospitality and Leisure Relief
From 1 April 2024 to 31 March 2025, eligible ratepayers occupying retail, hospitality and leisure properties will receive 75% relief on their business rates bills. In line with the conditions set by the government, a ratepayer may only claim up to £110,000 of support under the 2024/25 Retail, Hospitality and Leisure Relief Scheme for all of their eligible hereditaments.
Supporting Small Business Scheme (SSBS)
Bill increases for the smallest businesses losing eligibility or seeing reductions in Small Business Rate Relief or Rural Rate Relief will be capped at £600 per year from 1 April 2023.