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Business Rates Revaluation

Business Rates

At revaluation, the government adjusts the value of business rates to reflect changes in the property market. It usually happens every 5 years. The most recent revaluation came into effect in England and Wales on 1 April 2010, based on rateable values from 1 April 2008.The next revaluations will be in 2017 in England.

Your draft rateable value and (for most properties) summary valuation will be published online on 30 September 2016 together with other information which the government hope will help you understand more about your valuation . The VOA or government  will not be sending out printed valuations for this revaluation!!

At revaluation all properties are given a new rateable value multipliers are revised. This means that a change in your rateable value doesn’t always mean a change in your bill.

To make sure your valuations are accurate, you may need to give the Valuation Office Agency (VOA) or your assessor up-to-date rental evidence for your property at revaluation.

You can check your draft rateable value in October and let the VOA know if any information is incorrect before the local council uses it to calculate your bill.
Register your email address here to receive an email from the VOA to let you know that the draft valuation list is now online.
You will be able to review your draft valuation online and tell the VOA if any details are incorrect, before your local council calculates your business rate bill from 1 April 2017.

Review your Business Rates
Find your valuation in in England or Wales
How your rates are calculated

England

Business rates are worked out based on your property’s ‘rateable value’.
This is its open market rental value on 1 April 2008, based on an estimate by the Valuation Office Agency (VOA).

If you think your rates are wrong
You can ask for your property’s rateable value to be corrected if you think it’s wrong.
Before you appeal

The business rates you pay depend on your property’s ‘rateable value’. This is set by the Valuation Office Agency (VOA).
You can check the rateable value for your property, and request changes to the valuation or property details if you think they’re wrong.
The VOA will change your rateable value if they agree it’s wrong.

If you don’t agree with the VOA’s decision

If you’ve grounds for appeal, you can appeal to the VOA. You must continue to pay your rates bill during the appeal.
After this, you can take your case to the Valuation Tribunal if you’re still not able to agree the rateable value.
This applies to England and Wales only – appeals are handled differently in Northern Ireland and Scotland.

Material changes

Telling the VOA about a ‘material change’ to your property may affect the rates you pay. A material change is a physical change to an area or property, or to the way a property is used. These changes can include:
– changes to the property itself, or how the property is used
– new developments in the area
– new roads or changes to access routes

Be careful considering before you appeal as rateable values can also go up when the VOA change your rateable value! Your Bournemouth Coastal BID can support you with evidence when you prepare your case (footfall, vacancies rates etc) but cannot be held liable for any decisions by the VOA.

Important! The Government is changing the business rates appeals system in April 2017. Click here for more information about proposed reforms to business rates appeals.

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