The rateable value of a property is set by the HMRC Valuation Office. The value is regularly reviewed to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market.

The Valuation Office has published new guidance to support business rates customers during the billing period. Their blog explains how properties are valued. 

You can find and check your rateable value online. If you think the information held about your property is incorrect, ask the Valuation Office Agency to update their records.

Business rates are calculated based on your property’s rateable value.

Appealing my business’s rateable value

You can appeal for your property's rateable value to be corrected.

The Valuation Office may change the rateable value of your property if they feel that circumstances have changed since the last valuation.

If you cannot reach an agreement with the Valuation Office about a change in rateable value, you can make an appeal to the Valuation Tribunal Service, but you must carry on making your usual payments until you’re told your new value.