Rateable values and revaluation

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. 

The decision to include self-catering accommodation in the Business Rates or the Council Tax list is made by the Valuation Office Agency.  The government introduced new conditions on the 1 April 2023. You can find further details about self-catering accommodation on the GOV.UK holiday let accommodation pages.

The VOA also provide some information on how they value some other types of properties on the GOV.UK valuation agency webpage.

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.

You can contact the VOA for advice via their contact form.

2023 revaluation

The VOA  regularly updates the rateable values of all businesses and other non-domestic properties in England and Wales. This is called a revaluation.

Revaluations are carried out to reflect changes in the property market, which means that business rates bills are based on more up-to-date information. For the 2023 valuation, the date the VOA  used was 1 April 2021.

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  will not send out notifications to individual ratepayers of these new rateable values.

If the 2023 revaluation means you face a large increase in rateable value, you'll come under the transitional arrangements scheme. The details will be on your bill.

If you think your 2023 rateable value is too high, you'll be able to create a Business Rates Valuation Account to tell the VOA.

The VOA have provided some ‘how to’ videos to help with Business Rates Valuation Account registration and how to claim your property for business rates .

You must continue to pay your business rates as normal until a decision has been made.

The VOA continue to send out requests for rental and lease details to ratepayers to support an accurate 2023 Revaluation.

The next revaluation of all non-domestic properties is in 2026.

Contacting the Valuation Office Agency

We are responsible for your business rates bill. If you have any questions about your business rates bill, you can contact us.

The  VOA is responsible for the valuation of your property. If you have any questions about your rateable value, please contact the VOA .

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 to your property, such as an extension or changes to floor area sizes and parking. 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 contact the  VOA for advice via their contact form or sign in to a business rates valuation account.

The  VOA may accept your changes and update their current and future valuations.  

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. 

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