3. Revaluation

At revaluation, the Valuation Office Agency (VOA) adjusts the rateable value of business properties 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 revaluation comes into effect on 1 April 2017. You can search for your property to check your valuation and estimate your business rates.

Business rates are handled differently in Scotland and Northern Ireland.

What happens at revaluation

At revaluation:

This means that a change in your rateable value doesn’t always mean a change in your bill.

To make sure your valuations are accurate, you may need to give VOA up-to-date rental evidence for your property at revaluation.

If the business rates of your property in England change by more than a certain amount, you’ll get transitional relief so that changes to your bill are phased in gradually.