Your bill is calculated by multiplying the rateable value by the
rating multiplier and then adjusted to take account of transitional
arrangements.
Rating multiplier
The non-domestic rating multiplier for the City of London is the
rate which the Common Council levies on each pound of rateable
value in order to raise the amount which it is required to pay into
the central pool and the amount which it retains to pay for its own
services.
For the financial year 2011-2012 the City Non-Domestic Rate
Multiplier is £0.437 and the City Small Business Non-Domestic Rate
Multiplier is £0.430.
Business rates supplement
For the financial year 2011-2012 the business rate supplement of
£0.02 is being levied by the Greater London Authority on all
properties with a rateable value of more than £55,000, in relation
to its contribution to the Crossrail project.
Further information is available from
www.london.gov.uk/crossrail-brs
Transitional arrangements
Transitional arrangements phase in the effect of significant
changes in liability that arise from the 2010 revaluation of
non-domestic property. Where appropriate, these arrangements will
operate until March 2015. There are limits on the percentage by
which bills may increase or decrease each year. Special rules deal
with changes in rateable values and the merger or splitting of
existing properties.
Further information is available on the
DCLG (Department for Communities and Local
Government) website .
Download the Council Tax Non-Domestic Rates
booklet here (1.2mb)
Download the Non-Domestic Rates Explanatory
Notes here (140kb)