Revaluation 2017

Page last updated at 22 March 2017 at 16:00

The Valuation Office Agency (VOA) has compiled a new rating list with effect from 1 April 2017.

It will only take ratepayers a couple of minutes to click here to find and review their rateable value. 

Frequently Asked Questions 

What are business rates?

Business Rates is a local tax that is paid by the occupiers of all non-domestic /business property, in the same way that council tax is a tax on domestic property.

Business rates are charged on most business properties such as shops, offices, pubs, warehouses and factories. However, the property doesn’t have to be used for a business – if it is used for purposes which are not domestic it is likely to be rateable. We will send you a business rates bill each year.

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Roles and responsibilities?

The VOA sets the rateable value of business premises by using property details such as rental information.  We use the rateable value and the business rates multiplier (set by central government) to calculate your business rates bill.

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What is the Rateable Value?

The rateable value is assessed 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.

If you think your rateable value is incorrect, you can find and view your property details here.

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What is a revaluation?

The VOA regularly reassess and update 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.

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How can I find out more?

For more information on the 2017 Revaluation, rateable values, and business rates go to www.gov.uk/voa/revaluation.  You can also estimate your business rates bill, including any small business rate relief the local council may apply.

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Why is the rateable value different to my rent?

The VOA look at many rents in an area before deciding on the right rateable value for each property. Rents can vary between properties in an area, even if the properties are similar and the rents are agreed at the same time. This is because landlords and tenants often have different views on the rental value of a property and sometimes there are special lease terms that can affect the rent paid.

https://www.gov.uk/introduction-to-business-rates/how-your-rates-are-calculated

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I want to know the rent/trade details held for my property.

The VOA does not publish this information online, as that would breach the Data Protection Act.

Please call 03000 501 501 to request the details from the VOA.

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My business has closed, and I would like the property taken out of the Rating List.

The VOA doesn't remove properties from the Rating List just because the business has closed. It is more than likely that if the property still exists it may still be rateable.

https://www.gov.uk/introduction-to-business-rates 

Please also contact the Business Rates team to advise us the details.

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I have a property that is in poor repair or undergoing refurbishment or structural alterations.

Please go to: https://www.gov.uk/guidance/repair-and-rateable-value so you can consider whether to make a proposal – depending on state of disrepair.

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I believe the properties measurements are wrong.

Please go to: www.gov.uk/voa/revaluation where you can look up your property by postcode and send in suggested amendments to the measurements.

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I want to appeal/challenge the draft 2017 rateable value.

Once the new rateable values come into effect on 1 April 2017, you will be able to make a formal challenge. You can find out more about the appeals process, including the reforms the Government has proposed:

https://www.gov.uk/guidance/how-to-appeal-your-rateable-value

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My address/postcode is incorrect.

If the address details listed on www.gov.uk/voa/revaluation do not match the used address, you can submit a request to amend it online.

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Should I be paying business rates if my business is run from home?

You don’t usually have to pay business rates for home-based businesses if you:

  • use a small part of your home for your business, e.g. you use a bedroom as an office
  • sell goods by post.

Please refer to https://www.gov.uk/introduction-to-business-rates/working-at-home.

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What are transitional arrangements?

The Valuation Office Agency (VOA) reassesses all rateable values every five years, but Central Government decided to defer the revaluation due to take place on 1 April 2015 to 1 April 2017.  The VOA sets the new rateable values of all business properties, known as a revaluation. Rateable values are used by local councils to calculate business rates. The new rateable values, released on 30 September 2016, are based on the rental value of properties on 1 April 2015. These will be used to calculate business rate bills from 1 April 2017.

The transitional arrangements scheme set by Central Government limits the amount by which the business rate bill can increase or decrease as a result of the 2017 non-domestic rating revaluation carried out by the VOA.

Some increases and reductions will be capped and phased in up to five years until the full bill is due.

Ratepayers whose business rate bills have increased above a certain amount as a result of the 2017 revaluation will have the increase limited and phased in.

Ratepayers whose bills would otherwise have decreased below a certain amount as a result of the 2017 revaluation will also have these reductions limited and the reduction will be phased in.

The transitional arrangements are required to be self-funding. Therefore, the phasing in of the reductions in bills fund the phasing in of the increases of other ratepayers.

These transitional arrangements are applied automatically and are shown on your business rates bill in the calculation section.

The business rate bills for 2017-18 will be capped at the percentage limits in the table below, when compared to 2016.

Limit on increases

Property Size Rateable Value 01 April 2017 2017/18 % cap on increases
Small Up to £20,000 5%
Medium Up to £100,000 12.5%
Large Above £100,000 42%

 Limit on reductions

Property Size Rateable Value 01 April 2017 2017/18 % cap on reductions
Small Up to £20,000 20%
Medium Up to £100,000 10%
Large Above £100,000 4.1%

For example, a large property whose rates bill has increased as a result of the 2017 revaluation, when compared to 2016, will have the increase limited to 42% on the 2016 bill.

A large property with a decrease in their rates bill, when compared to 2016, will see the reduction capped at 4.1%.

All caps are before inflation. An inflation factor of 2% is also applied for 2017/18.

Transitional calculations are based on the small multiplier and applied before all other reliefs.

The transitional adjustments no longer apply once the full bill is reached.

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