Background
On 30 September 2016, the Valuation Office Agency (VOA) will publish over 1.9m draft rateable values online.
It takes a couple of minutes to click, find and review your rateable value online. This new service, 'Find My Business Rates Valuation' replaces the old Rating List on the internet, and has been developed based on customer feedback.
The website is www.gov.uk/voa/revaluation.
The following table shows the most common topics regarding business rates.
| Topic | |
|---|---|
| What are business rates? | Business rates is a local tax that is paid by the occupiers of all non-domestic /business property, in the same way that council tax is a tax on domestic property. Business rates are charged on most business properties such as shops, offices, pubs, warehouses and factories. However, the property doesn't have to be used for a business - if it is used for purposes which are not domestic it is likely to be rateable. We will send you a business rates bill each year. |
| Roles and responsibilities? | The VOA sets the rateable value of business premises by using property details such as rental information. We use the rateable value and the business rates multiplier (set by central government) to calculate your business rates bill. |
| What is the 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 here: https://www.gov.uk/correct-your-business-rates |
| What is a revaluation? | The VOA 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. |
| How can I find out more? |
For more information on the 2017 Revaluation, rateable values, and business rates go to www.gov.uk/voa/revaluation You can also estimate your business rates bill, including any small business rate relief the local council may apply. |
You can now get the following information on line using the links listed below:
| Nature of enquiry | Link |
| More information about business rates and rateable value | https://www.gov.uk/introduction-to-business-rates |
| Find out your rateable value and how it's worked out | www.gov.uk/voa/revaluation |
| To update property details | www.gov.uk/voa/revaluation |
| Why is the rateable value different from your rent? | The VOA looks at many rents in an area before deciding on the right rateable value for each property. Rents can vary between properties in an area, even if the properties are similar and the rents are agreed at the same time. This is because landlords and tenants often have different views on the rental value of a property and sometimes there are special lease terms that can affect the rent paid.
https://www.gov.uk/introduction-to-business-rates/how-your-rates-are-calculated |
| The rent/trade details held for your property | The VOA does not publish this information online, as that would breach the Data Protection Act. You can call 03000 501 501 to request the details. |
| Your business has closed, and you would like the property taken out of the Rating List | The VOA doesn't remove properties from the Rating List just because the business has closed. It is more than likely that if the property still exists it may still be rateable.https://www.gov.uk/introduction-to-business-rates |
| Your property is in poor repair | https://www.gov.uk/guidance/repair-and-rateable-value |
| Your property is undergoing refurbishment or structural alterations | https://www.gov.uk/guidance/repair-and-rateable-value |
| What is zoning? | The VOA uses zoning to measure retail premises. This is a standard method of measuring retail premises for valuation purposes. https://www.gov.uk/guidance/measuring-property-for-rating-purposes |
| You believe the property measurements are wrong | www.gov.uk/voa/revaluation |
| You want to appeal/challenge their draft 2017 rateable value | Once the new rateable values come into effect on 1 April 2017, you will be able to make a formal challenge. You can find out more about the appeals process, including the reforms the Government has proposed. https://www.gov.uk/guidance/how-to-appeal-your-rateable-value |
| You want to appeal/challenge your 2010 rateable value | www.gov.uk/voa/revaluation
You can look up their property by postcode and submit an appeal on the 2010 valuation. |
| Address details are wrong | If the address details listed on www.gov.uk/voa/revaluation do not match the used address, you can submit a request to amend it online. |