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.
Business rates draft Revaluation 2017
From 30 September 2016, the VOA will make over 1.9m draft rateable values available for inspection online.
Following as soon as possible after September 30, when details of the Uniform Business Rate and any transitional relief which may be available are announced, businesses will be able to visit the VOA website, find their property online, and get an estimate of their 2017-18 bills - enabling them to start planning for next year. Once this service is available It should only take a couple of minutes to click, find and review a business' rateable value online.
Find and/or correct your draft business rates valuation
To check the draft 'rateable value' of your business property visit : www.gov.uk/voa/revaluation
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.