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How are Business Rates calculated?

Every property liable for Business Rates is listed with the Valuation Office Agency, an office of the Inland Revenue. The Valuation Office Agency has assessed every property so that it has a 'rateable value'. Check your rateable value with the valuation office business rate page https://www.gov.uk/find-business-rates External Hyperlink - Opens in new tab

The rateable values of all business properties are re-valued every 3 years. The last revaluation took effect from 1 April 2023 with the next revaluation taking effect from the 1 April 2026.

Business Rates are calculated annually from 1 April by multiplying the rateable value of each property by a figure known as the 'rate multiplier'.

The multiplier is set annually by central government and determines the percentage (expressed as pence in the pound) of the rateable value of your property that you will  pay in business rates. From the 1 April 2026, all Non Domestic properties in England receive a new rateable value based on rental evidence as at 1 April 2024. Your rateable value may go up, down, or stay the same, and this will affect your bill.

The long standing two-multiplier system is being replaced with five multipliers, reflecting both property occupation type and rateable value.

The new multiplier structure for 2026–27 is:

An example of a typical calculation:

If the Rateable Value (RV) of your property was £10,000 and Non RHL, it would be multiplied by 38.2p (this is subject to qualifying for small business rate relief) to produce a total for the year of £3,820.00.

If you are entitled to any transitional arrangements or reliefs, this sum is then adjusted to reflect them, making a final total for your rates bill. The multiplier usually changes each year in line with inflation.

Every time that the Valuation Office Agency revalue properties, some rateable values increase, some stay the same, and others may even decrease.

For the 2026 revaluation, the Government maintained a 'transition scheme External Hyperlink - Opens in new tab' to cushion the effect of the revaluation, which could result in a smaller increase or decrease in the Business Rates at your property. 

If you need any further information about how bills are calculated or about how the transition scheme affects your property, please contact us at businessrates@fareham.gov.uk.

If you feel that the rateable value for your property is incorrect, see appealing against your rateable value External Hyperlink - Opens in new tab.

For further information please contact the Business Rates office on Tel: 01329 824651, or e-mail businessrates@fareham.gov.uk.