Business rates revaluation
From the 1 April 2017, the Valuation Office Agency (VOA) is updating the rateable value of all business properties. This is known as revaluation and it is usually done every 5 years in England and Wales, 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, for more information:
A property’s rateable value is assessed by the VOA and is how much 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 the valuation date of 1 April 2008
- From 1 April 2017 the rateable values will be based on the valuation date of 1 April 2015
You can find your property details and 2017 rateable value on the VOA website
- You can view your rateable value on the VOA website.
- If you have reason to believe that your 2017 rateable value is not correct, follow the instructions provided on the VOA website.
- You will need to complete their new check, challenge, appeal process (not available until 1 April 2017)
Check, challenge, appeal (CCA)
From April 2017 the VOA are introducing a new process for business rates appeals called check, challenge, appeal.
- If you have reason to believe that your 2017 rateable value is not correct, visit and follow the instructions on the VOA website how to check and challenge your rateable value.
- You cannot appeal your 2017 rateable value until you have completed the check and challenge stages.
More information is available on the VOA website. The process is:
- Stage 1: the ratepayer must check and agree their property details against the information on the VOA website and raise any discrepancies with the VOA. Your case will remain at this stage until you have reached agreement which can take up to 12 months to complete
- Stage 2: you will have 4 months to register your challenge to the rateable value of your property and provide the VOA with your grounds for the challenge. It could take up to 18 months to work through this stage and the VOA will write to you with their decision.
- Appeal decision: if you want to appeal the decision you will have four months to appeal and there will be a fee, which will be refunded if your appeal is successful.
Appealing your 2010 rateable value
To make an appeal against your rateable value you do not have to be represented by a rating adviser. The ratepayer (and certain others who have an interest in the property) can appeal against the rateable value of a property if they believe it is wrong. The appeals process is free and you can appeal online at:
- the Valuation Office Agency website
Extra Help with rates in 2017
In the Spring Budget, the Chancellor announced three new Government funded reliefs to help reduce the impact of business rate increases following the revaluation.
- Supporting small businesses
- New business rate relief scheme for pubs
- New discretionary relief scheme
For more information see Rate Relief
VOA website how to check and challenge your rateable value.