Check and challenge your rateable value
About business rates
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. From 1 April 2017, rateable values have been based on the valuation date of 1 April 2015.
The VOA regularly reassesses and updates the rateable values of all business properties, usually every five years. This is called a revaluation.
This is done 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.
To find out more, visit the Valuation Office Agency's website and read the introduction to business rates.