Rateable Value

Q8. The Valuation Office have told me that they are amending my rateable value, what happens next?

Q1. What is rateable value?
The rateable value for your business is based upon its rental value. This will be affected by, among other things, the amount of space that you occupy and what you use it for. If you make changes to the building your business is in, for example modifying the structure, building an extension or changing the way that you actually use the space, your rateable value can be affected.

It is used to calculate the amount of business rates payable.
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Q2. Who decides on the rateable value?
Rateable values are set by the Valuation Office Agency, an Agency of the Inland Revenue.
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Q3. How do I find out a rateable value?
Visit the Valuation Office website to search for a rateable value or to compare rateable values in a particular area.
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Q4. What does the Valuation Office Agency do?
The Valuation Office Agency carries out revaluations so that the values in the rating list can be kept up to date. The total amount of Business Rates collected in England does not change each year, except to reflect inflation, but the revaluations make sure that this is spread fairly between ratepayers.
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Q5. What is a revaluation and when is it next due?

The Valuation Office Agency has a statutory duty to carry out a revaluation of all Rateable Values every 5 years.

The next revaluation will come into force on 1^st April 2010, with all properties being assessed as at 1^st April 2008.

The Valuation Office Agency are currently sending out ‘Request for Information’ forms in respect of all Non Domestic properties and the information you provide will be used to ensure that assessment of your Rateable Value is correct.

You must complete and return the form within 56 days, failure to do so will result in a penalty of £100.

Further information, including help with ‘Request for Information’ forms can be found at www.voa.gov.uk/2010 .

Q6. When would the valuation office amend a rateable value?
The valuation officer has to maintain the list and may alter the value if he or she believes that there has been a change in circumstances at the property that may affect the value.
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Q7. What do I do if I disagree with a rateable value?
The ratepayer (and certain others who have interest in the property) can appeal against the value shown in the list if they believe it is wrong. Further information on the grounds for making an appeal, and on how to make one, can be found on the VOA website at www.voa.gov.uk or from your local valuation office.
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Q8. The Valuation Office have told me that they are amending my rateable value, what happens next?
The Valuation Office Agency advises the billing authority of details of all amendments to rateable values that it makes and the billing authority will, on receipt of the information, issue an amended bill to the ratepayer.
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