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.
| Year | Small business multiplier | Standard multiplier |
|---|---|---|
| 2016/17 | 48.4p | 49.7p |
| 2017/18 | 46.6p | 47.9p |
| 2018/19 | 48.0p | 49.3p |
| 2019/20 | 49.1p | 50.4p |
| 2020/21 | 49.9p | 51.2p |
| 2021/22 | 49.9p | 51.2p |
| 2022/23 | 49.9p | 51.2p |
| 2023/24 | 49.9p | 51.2p |
| 2024/25 | 49.9p | 54.6p |
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 for a fixed valuation date.
From 1 April 2017, the rateable values will be based on the valuation date of 1 April 2015.
From 1 April 2023, the rateable values will be based on the valuation date of 1 April 2021.
Can I appeal against my property’s valuation?
The Valuation Office Agency (VOA) values all business properties for business rates. The valuation is based on information the VOA holds about your property. You can view and update this information at gov.uk/voa/valuation.
You can contact the VOA at gov.uk/contact-voa. If you are unable to use the online service you can also contact the VOA on 03000 501 501.
