Calculating business rates
What are rateable values?
Rateable values are established by the Valuation Office Agency (a sub-division of Her Majesty's Revenues & Customs), and reflect the annual open market rental value of non-domestic properties at a fixed point in time (currently 1 April 2017). The Valuation Officer may alter the value if he believes that the circumstances of the property have changed.
The rateable value is not the amount that is payable, but used with the multiplier to calculate the basic annual rate charge for that financial year before any reliefs or reductions are applied.
The local Valuation Office Agency compiles a list with all the rateable values which is called the Rating List and they are responsible for maintaining this list.
You can find your rateable value by visiting the VOA website (GOV.UK)
Here you can also find out:
- How a property is valued
- What the rateable value is for all business rates properties
- How to appeal against a rateable value
Last updated: 16/02/2024 15:56
