Trying to figure out how your business rates are calculated? Or perhaps you're wondering whether you can challenge a valuation that doesn’t seem right? Understanding the role of the Rating Valuation Office business rates system is key to managing your costs and ensuring you're not overpaying. In this guide, we break down how everything works—from how to find a business rates valuation to what to do if you think yours is wrong.
The Rating Valuation Office, operated by the Valuation Office Agency (VOA) in England and Wales—or by Land & Property Services (LPS Northern Ireland)—is responsible for assessing the rateable value of new and small business properties. This value forms the basis of your business rates bill.
Your rateable value reflects the open market rental value of your property as estimated by the VOA or LPS. This is multiplied by a government-set 'multiplier' to calculate the annual business rates payable.
If you're unsure of your current rateable value, it's easy to find a business rates valuation online. GOV.UK and LPS NI both offer portals where you can search using your postcode or property name.
These services allow you to view your current valuation, compare it to similar properties, and decide whether you want to challenge it.
Business rates are calculated using the following formula:
Rateable Value × Multiplier = Annual Rates Payable
The multiplier is set annually and can vary depending on location, size of the business, and reliefs available.
The multiplier is a fixed amount per pound of rateable value, adjusted by the government each year to account for inflation and economic conditions.
The rating valuation office business rates process is designed to ensure a fair and consistent system. But like any system, it can sometimes go wrong. Errors in property data, outdated valuations, or changes in use can affect accuracy.
Make sure the details used to assess your property are correct—size, usage, access, and facilities all affect valuation.
If you believe your property has been overvalued, you can challenge it through a formal process:
This is commonly referred to as the “Check, Challenge, Appeal” (CCA) process. It applies to England, Wales, and similarly to Northern Ireland under the LPS framework.
To find a business rates valuation, visit GOV.UK’s business rates finder or Northern Ireland’s LPS calculator, enter your postcode, and review your rateable value and property details instantly.
LPS Northern Ireland operates in a similar way to the VOA. It manages property valuations, rate assessments, and appeals. If your business is based in NI, you’ll deal with LPS for rate queries, payments, and revaluations.
If you plan to challenge your rateable value, gather the following:
Knowing how the rating valuation office business rates process works can save your new business a significant amount of money. Use trusted tools to find a business rates valuation, confirm your details are accurate, and act if something seems off. Don’t wait—mistakes cost money, and the appeal process takes time.
If you need help navigating a challenge or simply want to understand your business rates better, don’t hesitate to contact our team for support. Better understanding means better decisions—and better outcomes for your business.
