Business rates

Latest news and information​


  • Revaluation 2017

Rateable values will be re-assessed to ensure that bills paid by ratepayers reflect changes over time in the value of their property relative to other properties.

What is a revaluation?

The Valuation Office Agency​ 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.

How can I find out more?

The current rating list is based on the 2010 revaluation. The next revaluation will take place in 2017 based on rental values at 1 April 2015.

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.

Go to https://www.tax.service.gov.uk/view-my-valuation

If you have reason to believe that your 2017 rateable value is not correct, follow the instructions provided on the site.  You will need to do the following (not available until 1 April 2017):

•         CHECK - review and confirm the facts about your property held by the VOA
•         CHALLENGE – once the facts are established, explain why you believe your valuation is wrong.

An appeal on your 2017 rateable value is not possible, and may not be necessary, until you have completed CHECK and CHALLENGE.

  • The Government announced last year that Small Business Rate Relief (SBRR) entitlements would continue to be doubled for 2016/17. It then announced in the 2016 Spring budget that the doubling of SBRR entitlements would become permanent from 1 April 2017, and the thresholds will increase to benefit a greater number of businesses. However, it should be noted that properties will be re-valued in 2017 and so rateable values may increase. Find out about Small Business Rate Relief (SBRR)

 

  • The 2016/2017 standard non domestic rate multiplier from 1 April 2016 is 49.7p and the small non domestic rate multiplier is 48.4p

 

  • The provisional 2017/2018 standard non domestic rate multiplier from 1 April 2017 is 47.9p and the small non domestic rate multiplier is 46.6p. The multipliers will be confirmed after either the Local Government Finance Report for 2017-18 has been approved by the House of Commons or 1 March 2017, whichever is earlier.

 

  • The Government has also announced the new small property thresholds. The revised limit, which is used for Small Business Rate Relief (SBRR​) second property purposes and also for the small Rateable Value (RV) empty property exemption, is £2,899. In other words, the RV has to be below £2,900 to qualify for an ongoing empty property exemption. These new thresholds take effect from 1 April 2017.

 

  • For SBRR​​ purposes, the threshold for someone’s combined total of RVs for their additional properties has increased. It currently has to be below £18,000, this is rising to below £20,000. These new thresholds take effect from 1 April 2017.

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  • Answers to many questions you may have about your bill can be found on these pages. More information about your business rates bill.

Payments

Tell us about a change

Information on business rates

Reducing your business rates

Disputes and appeals

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