Overview of Business Rates

Rateable Value

Apart from properties that are exempt from Business Rates, each non-domestic property has a rateable value which is set by the Valuation Office Agency (VOA), an agency of His Majesty’s Revenue and Customs. They compile and maintain a full list of all rateable values, available on the GOV.UK website: www.gov.uk/voa

The rateable value of your property is shown on the front of your bill. This broadly represents the yearly rent the property could have been let for on the open market on a particular date. For the revaluation that came into effect on 1^st April 2023, this date was set as 1^st April 2021.

The VOA may alter the value if circumstances change. The ratepayer (and certain others who have an interest in the property) can check and challenge the value shown in the list if they believe it is wrong. Further information about the grounds on which challenges can be made and the process for doing so can be found on the GOV.UK website: www.gov.uk/guidance/how-to-check-your-rateable-value-is-correct

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Last Updated: 10 March 2025