The council multiplies the rateable value of an individual property, which is set by the valuation office agency, by a 'multiplier' (the national non-domestic multiplier) set by central government. It is set for the whole of England and is effective from the 1 April each year.
The multiplier represents the number of pence in each pound of the rateable value that will be payable in business rates before any relief or discounts are applied. The calculation gives the amount of rates payable for the year.
The government reviews and sets the multiplier each year to reflect changes in inflation. The government also makes the national rules about business rates.
The valuation office agency sets the rateable value on which your rates are based.
You can estimate your business rates bill by using the estimator on the GOV.UK website. Please note this is only an estimate, your exact liability will be on your business rates bill from Southampton City Council.
For information relating to the gross expenditure of Southampton City Council, please visit the guide to Council Tax and Business Rates
Every non-domestic property has a rateable value which is determined by the Valuation Office Agency (VOA). The rateable value is broadly representative of the amount for which the premises could be let.