01743 358 625   info@shrewsburybid.co.uk

Business Rates Revaluation 2017

Business Rates

Business rates are charged on most non-domestic properties, like shops, offices, pubs, warehouses, factories, holiday rental homes or guest houses. You’ll probably have to pay business rates if you use a building or part of a building for non-domestic purposes.

Business Rates Calculation

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). You can estimate your business rates by multiplying the rateable value by the correct ‘multiplier’ (an amount set by central government). Your bill will be reduced if your property’s eligible for business rates relief.

Business Rates Revaluation

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 on the 1st of April 2017 in England, Scotland and Wales. There’s no date set for Northern Ireland.

At revaluation: 

 

Contacting the Valuation Office Agency

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. In England and Wales, you can query your rateable value by contacting the Valuation Office Agency (VOA). There’s no charge for this: Telephone (England): 03000 501 501 

Other Sources of Information and Help

You can get help from a qualified rating surveyor through one of the following organisations:

You may be charged for any advice you get from a rating surveyor right from the start.

You can call the RICS enquiry line for advice. The first 30 minutes are free. RICS enquiry line; telephone – 024 7686 8555.

Local (or with a local office) firms you can seek advice from

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