Valuations
The Valuation Office Agency (VOA) regularly updates the rateable value of all businesses and other commercial properties (i.e. properties that are not domestic / private homes) in England and Wales. The last time this was done, was 1st April 2023. The VOA are not part of the Council, but part of His Majesty’s Revenues and Customs (HMRC).
Rateable values are based upon the rent that a property might reasonably have been expected to realise based upon an annual tenancy on a defined valuation date and subject to certain prescribed assumptions.
For the 2023 revaluation, the valuation date (referred to as the antecedent date) was 1st April 2021. The effective date of rateable values determined for that purpose was 1st April 2023. The next scheduled revaluation is for 1st April 2026.
Revaluations are carried out to reflect changes in the rental value of properties which means that Business Rate bills are based on more up-to-date information.
Rateable values are used to calculate your Business Rates liability as follows:
Rateable value x multiplier set by Central Government for each year.
Finding a rateable value
You can view the rateable value for a property through the VOA’s Find a Business Rates Valuation Service
What if my property details need changing or I think my rateable value is too high?
To tell the VOA about changes to your property e.g. floor area, size or parking or, if you think your rateable value is too high, you need a business rates valuation account. You can create this via the link below:
Sign in or register for a business rates valuation account
You will be able to challenge your rateable value using the Check, Challenge, Appeal procedure accessible from the VOA website www.voa.gov.uk but must continue to pay Business Rates in the interim, as shown on the most recent bill sent to you. That is because your challenge may not be successful or may not change the rateable value.
What happens if my bill increased because of the revaluation?
A Transitional Relief scheme applies for qualifying properties from 1st April 2023. If you are entitled this will be automatically shown on your Business Rates bill.
Will I still get Small Business Rate Relief (SBRR)?
SBRR continues for the current rating list effective from 1st April 2023, see Small Business Relief.
Please check your bill before making an application, as any entitlement previously determined, will be shown on your Business Rates bill.
I am getting Retail, Hospitality and Leisure relief (RHL) now. Will this continue?
The above relief continued for the rating list effective from 1st April 2023 and continues for the year commencing 1st April 2024 at a rate of 75% of the Business Rates payable.
Where entitled, this will have been included in your annual business rate bill. For details see Retail, Hospitality and Leisure Relief.
What if I struggle to pay the Business Rates amount?
Please check if you can apply for any reliefs or reductions.
You can also view Manage my Business Rates Payments to request payment over 12 months rather than 10 to reduce your monthly outgoings. Please note, however, that it may not be possible to give 12 monthly instalments, if, for example, the application request is made either just before, or after the financial year concerned, has started.
How do I find out more information?
We will continue to update this webpage as appropriate. You can also check the VOA website
If you are already registered with the VOA with a Business Rates valuation account, you may receive email updates directly from the VOA.