Business Rates Overview

How your Business Rates are calculated

Visit the Valuation Office Agency website for full details on calculating your Business Rates including information on the current multiplier or uniform business rate set by central government .

Roles and responsibilities

The Valuation Office Agency sets the rateable value of business premises by using property details such as rental information.

They use the rateable value and the business rates multiplier (set by central government) to calculate your business rates bill.

Rateable value

The rateable value is assessed by the Valuation Office Agency, which is an agency of HM Revenue and Customs.

A property's rateable value is an assessment of the annual rent the property would rent for if it were available to let on the open market at a fixed valuation date.

  • Until 31 March 2017, the rateable values will be based on a valuation date of 1 April 2008.
  • From 1 April 2017, the rateable values will be based on the valuation date of 1 April 2015.

If you think your rateable value is incorrect, you can find and view your property details on the GOV.UK website.

Find your property valuation

Visit the Valuation Office Agency website.

Requests for information

VOA may send you a request for rental information about your property so they can work out its rateable value. You can either:

Contact the Valuation Office Agency if you need more time to send in your rental information.

Revaluation

The Valuation Office Agency regularly reassess and update the rateable values of all business properties, usually every five years. This is called a Revaluation. This is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market. Revaluation does not raise extra revenue overall.

Transitional arrangements are in place during each 5 year period so that the effects of any large increase or decrease in Business Rates are phased in.