Business rates are based on two key elements over which Hillingdon Council has no influence which is the multiplier and the rateable value.
Multiplier and rateable value
Your business rates bill is calculated by multiplying your rateable value by a multiplier. Central government sets the multiplier.
The multiplier is reviewed each year to reflect changes in inflation.
For 2024/25 the small business multiplier is set at 49.9p The standard multiplier is set at 54.60p.
In London there is also a business rate supplement to pay towards Crossrail. Read more about the Crossrail supplement
Calculate your business rates
What is rateable value?
The rateable value is assessed by the Valuation Office Agency (VOA), which is an agency of HM Revenue and Customs.
A property's rateable value is an assessment of the annual rent the property would rent for if it were available to let on the open market at a fixed valuation date.
The VOA regularly reassess and update the rateable values of all business properties, usually every 5 years. This is called revaluation. Read more about revaluations
The last revaluation took effect from 1 April 2023 based on the valuation date of 1 April 2021.
If you think your valuation is wrong
The council has no influence over the national multiplier or rateable value against which your property is assessed.
Any enquiries about rateable values must be submitted directly to the Valuation Office Agency (VOA).
You can contact the VOA at gov.uk/contact-voa. If you are unable to use the online service you can also contact the VOA on 03000 501 501.
The valuation officer may alter the value if they believe that the circumstances of the property have changed. In certain circumstances the ratepayer (and certain others who have an interest in the property) may also propose a change in value. If the ratepayer and the valuation officer do not agree, the matter will be referred to an appeal by a valuation tribunal. Further information is available from the Valuation Office Agency
Please remember that appealing against your rating assessment does not entitle you to withhold payments due on your account.
Demand notices
Annual bills are sent out just before the beginning of the financial year, which runs from 1 April to 31 March.
Payment of business rate bills is automatically spread over 10 months. However, businesses can ask for their business rate bills to be spread over 12 months . If you wish to take up this offer, you should contact us as soon as possible. It is important to remember that each instalment must be paid by the due date otherwise the whole balance becomes due and may be enforced by court proceedings.