Rateable values are the amount of rent a property could have been let for on a set valuation date.
The Valuation Office Agency (VOA) determine the rateable value on non domestic properties. They base the rateable value on the property's open market rental value at a fixed valuation date.
In the past, the VOA were expected to carry out a revaluation every 5 years to reflect changes in the property market, though this was sometimes extended due to economic circumstances. We use these rateable values to calculate your bill on the most up-to-date information.
The most recent revaluation by the VOA came into effect on 1 April 2023. Government chose 1 April 2021 as the date to base the valuations on. This means that the valuations reflect the impact COVID-19 had on rental values at the time.
Future revaluations will take place on a 3 year valuation cycle. The next valuation list is due to start on 1 April 2026.
You are now able to see the rateable value for your property based on the current revaluation from 1 April 2023.
Find a business rates valuation on Gov.uk
The VOA may alter the value if they believe that the circumstances of the property have changed.
You must tell the VOA about changes to your property, which can include:
The VOA will consider the changes and update current and future valuations.
You should tell the VOA if you think your rateable value is too high.
The VOA will consider your case and will notify you of any changes. In the meantime, until they make contact, you must continue to pay your business rates as normal.
The VOA are only responsible for the valuation of your property. So you need to contact the VOA for all queries about your rateable value.
Newcastle City Council are responsible for all other queries relating to business rates.
You will need to sign up or register on the Gov.uk website to check and challenge your rateable value.
Sign in or register for a business rates valuation account on Gov.uk