Rateable value for business rates and appeals

A property’s rateable value is assessed by the Valuation Office Agency, which is an agency of HM Revenues and Customs.

How the rateable value is calculated

It is based on the amount that the property would rent for if it was let on the open market at a fixed valuation date.

The fixed valuation date

• Until 31 March 2023, the rateable values will be based on a valuation date of 1 April 2015
• From 1 April 2023, the rateable values will be based on the valuation date of 1 April 2021.

If you think your rateable value is incorrect, find and view your property details on the UK Government website.

Composite properties

Some properties have both domestic and non-domestic purposes. One example is a pub with a flat above. In those cases, business rates are payable on the non-domestic part, and council tax is payable on the domestic part. This is known as a composite property.

Business rates revaluation 2023

All business properties’ rateable values are reassessed every five years. This is called ‘revaluation’, and the last revaluation occurred on 1 April 2023.

It is done to keep the system fair by redistributing the total amount payable in business rates to reflect property market changes. Revaluation does not raise extra revenue overall.

Appeals

To appeal against your rateable value, please visit The Valuation Office Agency’s website or call them on 03000 505505.

Please note that rates remain payable while appeals are processed. If your appeal is successful, we will make an adjustment and issue a refund if applicable.

Under certain circumstances, you may be entitled to interest. To begin the process, please contact us via the details above.

Related links

• Business rates home