Business Rates Calculator​ | Updated for 2024/25

What is a Business Rates Calculator?

A business rates calculator is a powerful tool designed to help businesses determine their business rates liabilities with precision and ease.

It takes into account the rateable value of your property, along with the applicable multipliers, to compute the amount a business needs to pay in rates. This tool is invaluable for businesses of all sizes, providing clarity and transparency in financial planning.

By using a business rates calculator, businesses can ensure they are accurately budgeting for their rate obligations, avoiding unexpected financial surprises and enabling more strategic resource allocation.

How the Business Rates Calculator Works

The business rates calculator operates by integrating key data inputs to deliver precise calculations. Here's a step-by-step overview of how it functions:

1. Input Rateable Value: Users begin by entering the rateable value of their property. This value is typically determined through the government website and reflects the estimated annual rent the property could achieve on the open market.
   
   
2. Select the Appropriate Multiplier: Depending on the business's location and size, users select the relevant multiplier. For instance, small businesses may benefit from a reduced multiplier, while standard multipliers apply to larger enterprises.
   
   
3. Calculate the Business Rates: The calculator multiplies the rateable value by the chosen multiplier to compute the total business rates payable. This straightforward process ensures accuracy and efficiency.
   
   

By following these steps, the business rates calculator provides an accurate and comprehensive assessment of a business's rate liabilities, empowering businesses to plan with confidence and foresight.

What are the Current Business Rates?

Here is a table showcasing the latest business rate multipliers based on your area for 2024/25:

For England, these rates rose from 51.2 pence back in 2023/24.

These rates represent the standard multipliers. It is worth noting that there are many reliefs and allowances available which can alter the amount of business rates that you are liable to pay. 

Benefits of Using a Business Rates Calculator

Using a business rates calculator can enhance your financial planning and efficiency.

Here are some compelling benefits:

Accurate Financial Forecasting

A business rates calculator provides precise calculations, enabling businesses to forecast their financial obligations with confidence. This accuracy is crucial for budgeting and ensuring that resources are allocated effectively.

Time Efficiency

By automating the calculation process, a business rates calculator saves valuable time. This efficiency allows business owners and financial managers to focus on strategic planning and other critical business activities.

Enhanced Decision-Making

With clear insights into business rates, decision-makers can make informed choices regarding expansion, investment, and cost management. This clarity supports strategic growth and sustainability.

Access to Updated Rates

Our business rates calculator is consistently updated with the latest rates, ensuring that your calculations reflect the most current financial landscape. This feature allows businesses to remain agile and responsive to changes, maintaining accuracy in their financial planning and decision-making processes.

Example Business Rates Calculations

Understanding how business rates are calculated can empower business owners to plan effectively and make informed decisions. Below are two illustrative examples, one for a small business in England and another for a large business in Wales, showcasing how the business rates calculator can be applied.

Example 1: Business in England

Business Details:

• Location: England
• Rateable Value: £20,000
• Multiplier for Small Businesses (2024/25): 54.6 pence

Calculation:

1. Determine the Rateable Value: £20,000
2. Apply the Small Business Multiplier:
   • £10,000 x 0.546 = £5460

Business Rates Payable: £5460

This example demonstrates how much a business in England would have to pay in business rates. However, it is worth noting that this does not include reliefs like small business rate relief

Example 2: Business in Wales

Business Details:

• Location: Wales
• Rateable Value: £200,000
• Standard Multiplier (2024/25): 56.2 pence

Calculation:

1. Determine the Rateable Value: £200,000
2. Apply the Standard Multiplier:
   • £200,000 x 0.562 = £112400

Business Rates Payable: £112400

By using these examples, businesses can gain a clearer perspective on how to leverage the business rates calculator to forecast their financial commitments accurately.

Business Rates Calculator FAQ

What reliefs are available and how do they impact the calculation?

There are several types of reliefs available that can significantly reduce the amount a business has to pay in rates. Small Business Rate Relief, for example, is one of the most common and applies to businesses with a rateable value below a certain threshold.

Rural Rate Relief is available for properties in designated rural areas, while Transitional Relief helps businesses adjust to changes in their rateable value following a revaluation.

These reliefs can usually be applied within the business rates calculator by entering the relevant details, but it’s essential to understand which ones your business qualifies for and how they impact the final payable amount.

How can I find my property’s rateable value if I don’t already know it?

If you don’t know your property’s rateable value, the first step is to visit the Valuation Office Agency (VOA) website, which maintains an up-to-date list of rateable values for properties in England and Wales.

Simply search for your property by postcode to access this information. For properties in Scotland, the Scottish Assessors Association website provides similar services.

Without this key figure, the calculator will not be able to provide an accurate estimate of your business rates.

What should I do if I believe my rateable value is incorrect?

If you think your rateable value is too high or inaccurate, you have the right to challenge it.

Start by checking the details of your valuation on the VOA or Scottish Assessors Association website to confirm the accuracy of the listed information.

If you find discrepancies, you can submit an appeal, providing evidence to support your case, such as comparable rental values or property usage details. Keep in mind that the appeal process can take some time, and during this period, you’ll still need to pay the calculated rates based on the current valuation.

If the appeal is successful, any overpayments will typically be refunded or credited to your account.