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Business Rates - Valuation Issues
This section tells you about rateable value, rating multiplier and rating advisors.
Apart from properties that are exempt from Business Rates, each non-domestic property has a rateable value which is normally set by the valuation officers of the Valuation Office Agency (VOA), an agency of HM Revenue and Customs. The rateable value broadly represents the yearly rent the property could have been let for on the open market on a particular date. For the revaluation that came into effect on 1st April 2010, this date was set as 1st April 2008. Click here for more information about Rateable Values and appeals.
The local authority works out the Business Rates bill by multiplying the rateable value of the property by the appropriate multiplier. The Government sets the multipliers for each financial year for the whole of England. Click here for more information about the rating multiplier.
Ratepayers may chose to, but do not have to be represented in discussions about their rateable value or their rates bill. Appeals against rateable values can be made by the ratepayer free of charge. Click here for more Information about rating advisors.