Rateable value

Since 1 April 1990, when the current Non-Domestic Rating system was introduced, every business premises should be allocated a rateable value unless it is of a type which is exempt from rating.

Following the latest revaluation, effective from 1 April 2017, the rateable value is a broad representation of the annual rent the property could have been let for on the open market as at 1 April 2015.

Rateable values are usually revalued every five years with the latest revaluation taking effect from 1st April 2017. Responsibility for assessing rateable values rests with the Valuation Office Agency, which is a branch of the Inland Revenue. Their district office is located at Ground Floor, Ferrers House, Castle Meadow Road, Nottingham NG2 1AB; Tel: 03000 501501 email: ratingeast@voa.gsi.gov.uk

If you believe that the rateable value for your premises is incorrect you should enter a proposal to alter it, also known as making an appeal. If you decide to appeal, this should be done as quickly as possible as there are limits on how far back any change in value can go. New legislation limits the number of appeals to one property unless a change in circumstances takes place.

Please note, whilst ever an appeal is outstanding payment should be made in accordance with your current demand, otherwise recovery action will be taken.

If your appeal is successful and the amount you have to pay is altered, a revised demand will be issued. Any overpayments will be refunded, including interest if applicable.

For more information about how to make an appeal, please see the Valuation Office Agency help page.