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The Rate in the Pound Multiplier is set annually by Central Government. Between revaluations the multiplier will be increased each financial year by the annual rate of inflation.

This is so that the value of the money raised through Business Rates each year stays the same and the Government can pay for the same level of service from your local council.

If this was not the case, there would be reductions in local service levels provided by the council or the shortfall in the cost of services would have to be made up through national taxes or by increasing Council Tax.

Following a revaluation, if the total level of rateable values goes up because property values in general have risen, the multiplier will fall to ensure that the total amount raised from ratepayers stays the same.

The multiplier for the financial year 2008/2009 is £0.458. Businesses who do not qualify for Small Business Relief will pay an additional supplement of £0.004 making their total multiplier £0.462