Business rates valuation
The amount of business rates you pay is based on the rateable value. The Valuation Office Agency (VOA) is responsible for assessing the rateable value of your property and we are responsible for working out how much you should pay.
The VOA bases most rateable values on an estimate of what it would cost to rent a property for a year, starting on a certain date.
The 2023 valuation was based on 1 April 2021, during the pandemic, and the rent information the VOA used reflects this.
The VOA regularly assesses and updates the rateable values of all business properties. The next revaluation is due in 2026. This is to ensure the system is fair by redistributing the total amount payable in business rates to reflect changes in the property market.
Revaluation does not raise extra revenue overall.
Find out:
Changes to your property
If your property details need to be changed, for example if the floor plan has altered, you should use the find a business rates valuation service to tell the VOA about the changes.You'll need to set up a business rates valuation account.
The VOA may accept your changes and update the valuation, but you should continue to pay your business rates.
You can ask the VOA to check your valuation if you think your rateable value is too high.
Self-catering properties
You'll be charged business rates rather than Council Tax if over the last 12 months your property was:
- available to let for short periods commercially for at least 140 nights in total
- actually let for at least 70 nights.
If you currently pay Council Tax but you think your property should be assessed for business rates, you can complete the VOA’s online form.
Rogue business rates agents
You can challenge your property’s valuation if you think it’s incorrect. You can use a rating agent to do this.
Most agents are reputable and provide a good service, but some rogue agents submit inaccurate information. This could result in penalties or increased rates bills for businesses.
You can manage your own business rates by creating a Business Rates Valuation Account on GOV.UK.
The VOA has created a checklist to help businesses if they want to use a business rates agent.
Businesses are encouraged to visit GOV.UK for advice on choosing a reputable agent.
Contact the VOA
For any other queries, you can:
- use the VOA online contact form
- phone 03000 501 501 (Monday to Friday, 9am to 4.30pm and Wednesday, 10am to 4.30pm).