How business rates are calculated

Rateable value

Finding your rateable value

You can do this through the Valuation Office Agency (VOA) Find a business rates valuation service on the Gov.UK website.

How is a property valued?

The VOA values a property by its rateable value. Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 revaluation, that date was 1 April 2021.

How is my rateable value calculated?

In order to calculate the rateable value, the VOA analyses the rental property market to ensure that rateable values reflect the property market accurately.

I think my rateable value is too high

You need to use a business rates valuation account to tell the VOA you think your rateable value is too high. You must continue to pay your business rates as normal until a decision has been made.

How Coronavirus (COVID-19) affected future rateable values

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.

For the 2023 valuation, that date was 1 April 2021. This was during the pandemic and the rent information the VOA used reflected this

Why do similar properties have different rateable values?

When calculating a rateable value, the VOA considers how much a property could be let for, on a set date. The rateable value of properties can vary for a number of reasons like size or location.

We are responsible for anything to do with your business rates bill. The VOA is responsible for the valuation of your property. You will therefore need to contact the VOA for all queries about your rateable value.

The Valuation Office Agency (VOA) values all business properties for business rates. The valuation is based on information the VOA holds about your property.