What is the Rateable Value?
Business rates are based on your property’s rateable value. The value is assessed by the Valuation Office Agency (VOA). A property’s rateable value is an assessment of the annual rent the property would attract if it were available to let on the open market at a fixed valuation date.
From 1st April 2023, the rateable values will be based on the valuation date of 1st April 2021
To understand why your property has a certain rateable value, please go to gov.uk website.
The rateable value of your property is shown on the front of your demand and is used to calculate your rate liability.
Business Rates Revaluation 2023
As a result of the Non-Domestic Rating Act 2023, Business Rates revaluations will now take place every 3 years, meaning changes to economic conditions and fluctuations in the property market are reflected in business rates bill more quickly.
To do this, the VOA will be contacting businesses to request rental information to support the next revaluation of Business Rates from 1st April 2026.
If you receive a request, please complete, and submit your up-to-date details. It is important to provide this information to ensure business rates are fair and accurate. You can find more information at here.
Your demand may increase, decrease, or stay the same, as a result of a revaluation. For those affected by an increase in rateable value following a revaluation, a Transitional Adjustment scheme will limit significant changes to rates bill, phasing them in over time. Further information can be found here.
How do I appeal against a rateable value?
If you are concerned that your rateable value may be incorrect, you can check the information the VOA has used and let them know if something is incorrect by accessing the guidance and sending a Check case here.
You cannot withhold any payment pending the outcome of an appeal. Legally the Council must bill you based on the rateable value that the Rating List shows at the time. You are legally obliged to pay in accordance with the demand sent to you.
The Valuation Officer can backdate amendments to the rateable value. Where this results in you having paid too much, we will refund any overpayment that you have made. In addition, you are entitled to statutory interest on that overpayment. The Government sets the rate of interest payable each year.
If you do not pay as demanded, and we have to enforce payment, you will forfeit the right to receive interest on any subsequent overpayment.
What happens when my rateable value changes?
When your appeal has been dealt with, the Valuation Office will formally notify us of the amendment to be made. We cannot recalculate your liability until we receive that notification. However, under normal circumstances we will make any changes to your demand within 30 days of receiving notification from the Valuation Office.
Who do I contact if my property has changed?
If a property has changed, for example its floor sizes are different, then customers can let the VOA know now using a Business Rates Valuation Account.
Important information
Please read the below advice on combating 'cowboy' Business Rate advisors. Any advice you may be given by the organisations listed is independent of Sefton Council.
Rating advisors may cold call you to offer big savings in your Business Rates bills.
These operators are unlikely to be professionally qualified and often make fraudulent promises to secure large reductions in your rates bill so as to obtain early payments from you of up to several hundred pounds. Once you have paid them, you are unlikely to be able to seek redress, except through the courts. An ill-considered appeal could even increase your bill.
Here are some ways to check out a company:
- Check the firm and the individuals with the professional bodies listed below
- Ask for the names and telephone numbers of past clients and ring them to check
- Demand to see a copy of their contract and whether it entitles the firm to a percentage of the reduction in Rateable Value as this may not necessarily lead to a saving in the rates you have to pay
Free advice can be obtained from the Royal Institute of Chartered Surveyors Helpline listed below.
Some contracts contain disguised fees. You may be told that you will have to pay when the Valuation Office acknowledges receipt of an appeal. Not only can you lodge an appeal yourself, but the Valuation Office acknowledges receipt of all appeals free of charge.
Professional advice from qualified rating surveyors is available from members of the Royal Institution of Chartered Surveyors (RICS) or the Institute of Revenues, Rating and Valuation (IRRV).
The members of RICS or IRRV are:
- Regulated by rules of professional conduct offering redress to the general public
- Fully trained and qualified to standards required by their professional body
- Required to hold professional indemnity insurance
If you choose a rating advisor who is not a member of one of these bodies, you should satisfy yourself that the advisor has the necessary knowledge and expertise, as well as appropriate indemnity insurance. Ratepayers with any concerns about a rating advisor should consult the RICS or IRRV before entering into any formal agreement to engage a rating advisor to act on their behalf.
You can contact the RICS and the IRRV as follows:
The Royal Institution of Chartered Surveyors
Email: contactrics@rics.org
Tel: 0247 686 8555
Institute of Revenues, Rating and Valuation
Email: enquiries@irrv.org.uk
Tel: 0207 831 3505
Contacting the Valuation Office Agency
You can contact the VOA at the following link www.gov.uk/contact-voa. If you are unable to use the online service, you can also contact the VOA on 03000 501 501