Business Rates - Revaluation 2017 Customer Advice
As a part of Business Revaluation 2017 the Valuation Office Agency has published over 1.9m new draft rateable values online. Find out how to check yours here.
The government Valuation Office Agency (VOA) sets the rateable value of business premises by using property details such as rental information. The rateable value and the business rates multiplier (set by central government) is used to calculate your annual business rates bill.
The VOA regularly reassesses and updates the rateable values of all business properties, usually every five years. This is called a Revaluation.
Revaluation is done in order 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.
Check your draft revaluation and get an estimate of your 2017/18 Business Rates Bill
From 30 September 2016, the VOA has made over 1.9m draft rateable values available for inspection online.
To check the draft 'rateable value' your business premises and get an estimate of your 2017/18 Business Rates Bill visit : GOV.UK - Estimate your business rates
You can also:
- request changes to property or valuation details if you think they're wrong
- view the valuation details of other properties
- appeal the rateable value if eligible.