Business rates calculation/revaluation

The rateable value of non-domestic (business) properties are assessed by the Valuation Office Agency (VOA) and are used by local authorities to calculate business rates charges.

The VOA reassesses and updates the rateable value of all non-domestic (business) properties usually every 5 years. This process is called a Revaluation.

The latest revaluation came into effect on 1 April 2017. All properties have their rateable value assessed on an estimate of the annual rent payable, as if it were available to let, on the open market at a fixed valuation date of 1 April 2015.

To work out the annual business rates, we multiply the rateable value of the property by a ‘multiplier’ figure which is set by central government effective from 1 April every year. The appropriate ‘multiplier’ is shown on the front of your business rates bill.

If you think your 2017 rateable value is incorrect, you can view, check and challenge the rateable value of your property at: www.voa.gov.uk/valuation

If you are still not satisfied you can lodge an appeal with the VOA.

Valuation Office Agency Website