Business rates 2020-21
For this financial year, businesses in Kensington and Chelsea are expected to pay approximately £365 million, plus £11.5 million of Business Rate Supplement (BRS), a combined total of £376.5 million. Under the retained rates scheme, the Royal Borough is expecting to keep £52.7 million of this amount.
How your rates bill is calculated
Your gross annual rates bill is calculated by multiplying the rateable value of the property by the appropriate Government set multiplier.
For 2020-21, the multiplier is 51.2 pence or 49.9 pence if your business qualifies for small business rate relief.
The net rates bill may differ if you qualify for a:
- or if transitional arrangements apply