Apart from properties which are exempt from Business Rates, each non-domestic property has a rateable value. The valuation officers of the Valuation Office Agency (VOA) set the rateable values. The VOA is a part of the Inland Revenue. It draws up and maintains a full list of all rateable values.

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 comes into effect on 1 April 2010, this date was set as 1 April 2008.

Related Links

• Valuation Officers Agency (VOA)