Business rates: valuation and appeals

Calculating business rates

The rate payable is based on two variable factors:

  1. The annual multiplier, specified by the Secretary of State; and
  2. The property rateable value, specified by the Valuation Office Agency.

All non-domestic property has a rateable value unless it is exempt. The current rateable value represents the annual rent the property could have been let for in 2015.

The rateable value of a property is assessed by the Valuation Office Agency - an executive agency of the Inland Revenue.

After a revaluation, some rateable values will increase; however others will decrease - reflecting changes in the rental market over the last 5 years. This is because the gross amount of Business Rates collected nationally has to remain broadly the same year on year.

The rateable value of a property can be found in the local rating list.The current list was compiled on the 1 April 2017 and will remain in force until the next revaluation.

Individual rateable values may be obtained by phoning the business rates team.

Ratepayers facing significant changes in rate liability will find that the amounts they are due to pay will only vary by a fixed percentage, plus inflation, from the previous year's bill. This is known as the Transitional Adjustment Scheme.