Miscalculated Rateable Value on My Shop – How to Appeal and Reduce Your Business Rates

If you believe the rateable value (RV) of your shop has been miscalculated, you could be overpaying on business rates—often by thousands of pounds per year. Many retail property owners and tenants across London and the UK are unaware that their rateable value can be challenged through the Valuation Office Agency (VOA), potentially unlocking significant savings.

At Fraser Bond, we help small businesses, landlords, and investors review and appeal inaccurate valuations to ensure their business rates bill reflects true market conditions and property usage.

What Is the Rateable Value and Why It Matters

The rateable value (RV) is an estimate of your property's annual rental value on a specific valuation date, as determined by the Valuation Office Agency (VOA). It forms the basis of your business rates bill.

Your business rates are calculated as:

Rateable Value × Uniform Business Rate (UBR) – Applicable Reliefs = Annual Rates Bill

If the RV is too high due to incorrect floor area, overestimated rental values, or outdated property information, you could be significantly overcharged.

Common Reasons for Miscalculated Rateable Values on Shops

1. Incorrect floor space – VO data may list inaccurate measurements

2. Wrong property type or use – e.g. retail assessed as restaurant or showroom

3. Obsolete property condition – older buildings may be overvalued

4. Structural changes or layout reductions not reflected in VOA records

5. Vacant or underused parts of the premises being included in full

6. Overinflated rental assumptions due to outdated comparables

How to Challenge a Miscalculated Rateable Value

You can formally challenge your RV through the Check, Challenge, Appeal (CCA) process via the VOA. Fraser Bond can guide you through each stage:

 Step 1 – Check

• Review the VOA's records on your property

• Confirm floor area, usage class, and physical layout

• Submit a “Check” request if discrepancies are found

 Step 2 – Challenge

• Provide evidence that the RV is incorrect (e.g. floorplans, photos, lease comparables)

• Submit a formal case to propose a corrected value

• VOA will review and may offer a revised RV

 Step 3 – Appeal (if needed)

• If the challenge is unsuccessful, escalate the matter to the Valuation Tribunal

• Legal or rating representation is recommended at this stage

Important: Challenges must be based on factual errors or rental market evidence. Personal hardship or economic downturn are not grounds for appeal—but market value evidence is.

How Fraser Bond Can Help

At Fraser Bond, we support commercial property owners, retailers, and landlords with:

• Reviewing VOA assessments for accuracy

• Preparing and submitting Check/Challenge cases

• Coordinating with specialist rating surveyors and lease advisors

• Advising on rate relief options if you’ve overpaid due to inflated RV

• Guiding small business owners through Small Business Rates Relief (SBRR) eligibility

We’ve helped clients across Central and Greater London reduce their shop’s RV and unlock backdated business rates refunds where miscalculations were successfully proven.

Don’t Overpay – Act on Your Rateable Value Today

If you believe the rateable value on your shop is wrong, take action to challenge it now. You may be entitled to a lower rates bill and even backdated credits if successful.

Contact Fraser Bond via FraserBond.com for a rateable value review, or to speak with our business rates team for appeal support.