Rateable values and 2017 revaluations
Most non-domestic properties have a rateable value. The rateable value is set by the HM Revenue and Customs Valuation Office Agency (VOA) and is based on the market rent for the property at a given date.
A few types of non-domestic property don't have a rateable value because they are exempt from Business Rates.
The rateable value isn't the amount you pay in Business Rates. Business Rates are calculated by multiplying the rateable value by a national Business Rates multiplier figure set each year.
You can find detailed information on how rateable values are worked out and on other Business Rates topics on the GOV.UK Business Rates pages.
You can see a full list of rateable values, check if your rateable value is correct, and query the rateable value using the VOA online tool. See also our appeals page.
You can talk directly to the VOA for advice.
The VOA update rateable values regularly, usually every five years. The latest revaluation took effect on 1 April 2017. Rateable values in the 2017 rating list are based on market rental valuations as at 1 April 2015.
In the Autumn Budget 2017 it was confirmed that the frequency of revaluations would be increased to every three years, following the next revaluation currently due in 2021.
Three year revaluations will be delivered by the VOA and to support this, business owners will be required to provide regular information on who is responsible for business rates and on property characteristics including use and rent to the VOA . The government will consult on the detail of implementation of more frequent revaluations in the spring.
You can find out full details of your property's new rateable value using the VOA online tool. Your Business Rates bill will also show the rateable value. The VOA did not send out notifications to individual ratepayers of these new rateable values.
If the 2017 revaluation means you face a large increase or decrease in rateable value, you'll come under the transitional arrangements scheme. The details will be on your bill.
Property alterations and changes in value
The rateable value of your property might go up or down if changes affect its rental value.
This means you must tell the VOA about any physical alterations, such as an extension. It's important to tell them straightaway so you don't face a large backdated bill or pay more than you need to. To tell the VOA about changes, you can use the VOA online tool.
Where there is a change in circumstance other than a physical alteration, you can sometimes ask the VOA to revalue the property. You can talk to the VOA for advice.
The VOA sends us weekly reports telling us about changes to rateable values, so we can send out revised bills.
Reductions in rateable value because of roadworks
You can ask the VOA for a short term reduction in the rateable value if roadworks nearby are due to go on for longer than 4 months and are likely to cause serious harm to your business. You must contact the VOA as early as possible and while the roadworks are still ongoing. You'll need to give the VOA full details of what is happening and facts about how the roadworks are affecting your business.
The VOA might then reduce the rateable value temporarily if they decide the roadworks are affecting the rental value of the property. They can't give any further compensation for loss of trade.
You might find that the rateable value of your property is higher after roadworks than before, because the area has been improved.