Business Rates Revaluation 2017

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.

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.

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:

https://www.gov.uk/correct-your-business-rates

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.

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

Timetable of Events

Date Event
30th September 2016

Draft list available on www.gov.uk/voa/revaluation

17th October 2016

Leaflet will be sent to all business properties asking them to review their property details online.

30th November 2016 Its recommended all customers review their property details online before this date.
1st April 2017 New rateable value comes into effect.

Frequently asked questions about Business Rates Revaluation

Question/Enquiry Guidance
I would like to find out what my rateable value will be,, and how it's worked out. Go to www.gov.uk/voa/revaluation here you can look up your property by postcode and see details.
My property details are incorrect. Go to www.gov.uk/voa/revaluation here you can look up your property by postcode and send in suggested amendments to the details.
Why is my rateable value different from 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.

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

What is the rent/trade details held for my property?

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

Call 03000 501 501 to request the details.

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.

For more information for to https://www.gov.uk/introduction-to-business-rates

My property is in poor repair. Go to https://www.gov.uk/guidance/repair-and-rateable-value After reading this you may want to consider whether you should make a proposal - depending on state of disrepair.
My property is undergoing refurbishment or structural alterations. Go to https://www.gov.uk/guidance/repair-and-rateable-value to see if this affects you and what to do if it does.
What is Zoning?

The VOA uses zoning to measure retail premises. This is a standard method of measuring retail premises for valuation purposes.

Go to https://www.gov.uk/guidance/measuring-property-for-rating-purposes

I think the property measurements used are wrong. Go to www.gov.uk/voa/revaluation you can look up your property by postcode and send in suggested amendments to the measurements.
I want to appeal/challenge my 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.

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

The address of my business 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.
Can i expect a large increase or decrease in my charge if there is a large change in my rateable value?

If there is a large increase or decrease in the amount payable following revaluation then there may be a period of transitional adjustments. Large increases in the amount payable may receive some relief, whereas large decreases in the amount payable may have a surcharge added.

The amount of relief or surcharge is reduced each year by a set calculation until the normal payable charge is reached, at which point no further transition is applicable.

Transitional adjustments do not raise extra revenue overall. Once the transitional scheme has been announced you will be able to estimate your business rates bill.

Go to (link to TR part of our website) for details of the 2010 transitional relief scheme

I run a business from home should I be paying business rates? 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, eg you use a bedroom as an office

• sell goods by post.

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