Non-Domestic Rates (business rates) calculation
Calculation
- Business Rates = Rateable value x Appropriate Multiplier for property
- Less transitional phasing – this is automatically applied where applicable
- Calculated on a daily basis.
- Discounts and exemptions can be found on our website
Rateable Value
You will find the rateable value on the front of your Business Rates bill/demand.
- Assessment by the VOA: The Valuation Office Agency (VOA) assesses the rateable value of non-domestic properties and publishes these on their website. This value stands for the yearly rent on the open market at a specified date.
- Maintenance: The VOA keeps and updates the listing. They may alter the value if the property circumstances change.
- Revaluation: The VOA periodically revalue properties to reflect changes in the property market. The next revaluation is scheduled for April 2026.
- Appeals: Property owners can appeal the rateable value if they believe it is incorrect.
Information on how to appeal is available on the VOA website or from local valuation offices.
Multipliers
- Set annually by the government
- Current and recent years are shown below
|
1 April to 31 March |
Standard multiplier (£) |
Small Business multiplier (£) |
|
2025 to 2026 |
0.555 |
0.499 |
|
2024 to 2025 |
0.546 |
0.499 |
|
2023 to 2024 |
0.512 |
0.499 |
|
2022 to 2023 |
0.512 |
0.499 |
|
2021 to 2022 |
0.512 |
0.499 |
|
2020 to 2021 |
0.512 |
0.499 |
|
2019 to 2020 |
0.504 |
0.491 |
Contact business rates team:
Email: revenues@lincoln.gov.uk
Post: PO Box 1257, Lincoln, LN5 5PQ
Phone: 01522 873342