How your business rates are calculated
All non-domestic properties are given a rateable value by the Valuation Office Agency (VOA). This body makes up part of HM Revenue and Customs.
Their assessment is based on:
- what the annual rent for your property would be if it were let on the open market as of 1 April 2021
All rateable values are calculated using this date to ensure each assessment is fair.
The rateable value of your property is not the amount you will pay in Business Rates.
Visit the VOA website to find out about rateable value.
Calculating your bill
We multiply the rateable value by a figure called the national multiplier. This figure is set out by Central Government each year.
National multiplier
- the national multiplier for this financial year 2024/2025 is 0.546 (properties with a rateable value of 51,000 or greater)
- the national multiplier for Small Business Rates for the financial year 2024/2025 is 0.499 (properties with a rateable value less than 51,000)
This overall total can then be affected by discounts or reliefs that you may be entitled to.
Where does the income from business rates go?
- 50% goes to Central Government
- 49% is retained by Southend-on-Sea City Council
- 1% goes to Essex Fire and Rescue Authority
Explanatory notes
Explanatory notes are available to view for: