Most non-domestic properties have a rateable value. The rateable value is set by the HM Revenue and Customs Valuation Office Agency (VOA)
The rateable value isn't the amount you pay in Business Rates. Business Rates are calculated by multiplying the rateable value by a national Business Rates multiplier figure set each year.
You can find detailed information on how rateable values are worked out and on other Business Rates topics on the GOV.UK Business Rates pages.
The decision to include self-catering accommodation in the Business Rates or the Council Tax list is made by the Valuation Office Agency. The government introduced new conditions on the 1 April 2023. You can find further details about self-catering accommodation on the GOV.UK holiday let accommodation pages.
The VOA also provide some information on how they value some other types of properties on the GOV.UK valuation agency webpage.
You can see a full list of rateable values, check if your rateable value is correct, and query the rateable value using the VOA online tool.
You can contact the VOA for advice via their contact form
2026 revaluation
Every 3 years the VOA updates the rateable values of all businesses and other non-domestic properties in England and Wales. This is called a revaluation. You can find help on the 2026 revaluation here. The next revaluation comes into effect on 1 April 2026.
Revaluations are carried out to reflect changes in the property market, which means that business rates bills are based on more up-to-date information. Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2026 revaluation, that date is 1 April 2024. A rateable value isn't necessarily the same as the amount of rent paid for a property or the level of business rates that it might be liable for.
If the 2026 revaluation means you face a large increase in rateable value, you'll come under the transitional arrangements scheme. The details are on our discretionary policy.
What to do if you think your rateable value is incorrect
If you think your 2026 rateable value is incorrect, you'll be able to create a Business Rates Valuation Account.
To register and tell the VOA. You can use your account to:
- check the details the VOA holds.
- tell the VOA if something is wrong.
- see how your property’s valuation was worked out.
You must continue to pay your business rates as normal until a decision has been made.
Property alterations and changes in value
The rateable value of your property might go up or down if changes affect its rental value. This means you must tell the VOA about any physical alterations to your property, such as an extension or changes to floor area sizes and parking. It's important to tell them straightaway so you don't face a large backdated bill or pay more than you need to. To tell the VOA about changes, you can use the VOA online tool
Where there is a change in circumstance other than a physical alteration, you can sometimes ask the VOA to revalue the property. You can contact the VOA for advice via the Valuation Office Agency contact form or sign in to a business rates valuation account.
Removing a property from the rating list
The VOA have developed new, simplified, guidance on removing a property from the business rates list to provide customers with more in-depth information about the circumstances in which a property can be removed from the list and the types of evidence needed to support this, which can be viewed here