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Rate in the Pound

The Non-Domestic Rates charge for a property is calculated by multiplying the rateable value of the property by the rate in the pound for that financial year.  The rate in the pound is also known as the poundage or multiplier.

The rate in the pound is set each year by the Government and normally increases by the rate of inflation as at the end of September in the previous financial year.

When there is a national revaluation of rateable values, normally every five years, the rate in the pound is adjusted so that the total amount of non-domestic rates collected across the country as a whole does not increase by more than inflation.   The revaluation due in April 2015 was postponed by the Government and takes effect from April 2017.

Between 2005/06 and 2016/17 a lower rate in the pound was used for smaller properties with a rateable value of less than £18,000 (outside London).  From 2017/18 the lower rate applies to properties with a rateable value of less than £51,000 This is known as the small business rate relief multiplier.

The table shows the rate in the pound for each year since Non-Domestic Rates were introduced in 1990.

Financial Year Rate in the £ Small Business Rate in the £
2017/2018 £0.479 £0.466
2016/2017 £0.497 £0.484
2015/2016 £0.493 £0.480
2014/2015 £0.482 £0.471
2013/2014 £0.471 £0.462
2012/2013 £0.458 £0.450
2011/2012 £0.433 £0.426
2010/2011 £0.414 £0.407
2009/2010 £0.485 £0.481
2008/2009 £0.462 £0.458
2007/2008 £0.444 £0.441
2006/2007 £0.433 £0.426
2005/2006 £0.422 £0.415
2004/2005 £0.456
2003/2004 £0.444
2002/2003 £0.437
2001/2002 £0.430
2000/2001 £0.416
1999/2000 £0.489 £0.480
1998/1999 £0.474 £0.465
1997/1998 £0.458 £0.449
1996/1997 £0.449
1995/1996 £0.432
1994/1995 £0.423
1993/1994 £0.416
1992/1993 £0.402
1991/1992 £0.386
1990/1991 £0.348

The rates charge based on the rate in the pound may be adjusted by the award of rate reliefs or due to transitional phasing.