How are business rates calculated?
About rateable values
Your business's rateable value is set 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.
To find out more visit the Valuation Office Agency's website and read the introduction to business rates.
If you think your rateable value is too high, find out more.