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We calculate the annual business rates due on your
property by using a rating multiplier.
This multiplier is a rate in the pound set by the
Communities and Local
Government (CLG) department.
We multiply this rate with the rateable value of your property
and deduct any relief you are due to produce your final bill.
The CLG sets the multiplier rate annually and, except in a
revaluation year, cannot raise it by more than the increase in the
retail prices index.
The current business mulitplier rate for 2007/08 is 44.4p in the
pound for businesses and 44.1p in the pound for small
businesses.
The small business multiplier is used for properties which have a
rateable value of less than £15,000, which are in receipt of
small
business rate relief. |