Your rateable value, multiplier and reliefs
Unless a property is exempt from business rates, every non-domestic property is given a rateable value. This is set by the Valuation Office Agency (VOA), which is part of HM Revenue & Customs.
The VOA keeps and maintains the official list of all rateable values for all non-domestic properties. You’ll find the rateable value for your property shown on the front of your business rates bill.
The rateable value broadly reflects the yearly rent the property could have been let for on the open market, based on a valuation date set in law.
If circumstances affecting the property change, the VOA may update the valuation.
Ratepayers (and others with an interest in the property) can also check the valuation and challenge it if they believe it is incorrect.
Details about when a challenge can be made and how to do this are available from the VOA, or on the VOA website.
Your business rates bill is then calculated by us, using the rateable value and applying the appropriate non-domestic multiplier.
Depending on your circumstances, you may also be entitled to business rates relief, which can reduce the amount you have to pay. There are a range of available reliefs - find out more.
