Valuation officers from the Valuation Office Agency (VOA) draw up and maintain a full list of all rateable values on business properties. An officer may alter a rateable value if circumstances change. 

How to challenge your rateable value

All rateable values are reassessed at a general revaluation which usually takes place every five years. The most recent revaluation took effect from 1 April 2017. 

Whilst the 2017 revaluation did not increase the amount of rates collected nationally, some ratepayers saw an increase in their rates. However, the majority of businesses received a reduction or no change in their bill. 

Check your business rates valuation

Transitional relief

A £3.6 billion transitional relief scheme was put in place to limit changes in business rate bills as a result of the 2017 revaluation. 

To help pay for the limits on increases in bills, there are also limits on reductions in bills. 

Find out more about the transitional relief scheme