Updated October 2026 · Fraser Bond
Business rates · Valuation
What is rateable value?
VOAsets it
RatesRV × multiplier
Reliefssmall business & more
ChallengeCheck, Challenge, Appeal
In short: Rateable value (RV) is the Valuation Office Agency's estimate of a property's open-market annual rent at a set valuation date. Your business rates bill is roughly the RV multiplied by the multiplier set by the government, less any reliefs such as small business rate relief. Checking the RV before you rent or buy a property is essential, because it can make a big difference to running costs. If you think it's wrong, you can use the VOA's Check, Challenge, Appeal process.
Business rates estimate
Rates before relief–
Estimated bill–
Per month–
Use the current multiplier from GOV.UK. Your council sends the actual bill.
Check, Challenge, Appeal
1
CheckReview the VOA's details for your property.
2
ChallengeIf the valuation looks wrong, submit a challenge with evidence.
3
AppealIf you disagree with the decision, appeal to the Valuation Tribunal.
How Fraser Bond can help
- Factor rates into rental valuations
- Compare total occupancy costs for occupiers
- Letting commercial property
- Lease advice
Frequently asked questions
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Is rateable value the same as rent?
No. It's an estimate of rental value at a fixed valuation date.
Who pays business rates?
Usually the occupier. Owners may pay on empty property after a relief period.
How do I find my rateable value?
Search the VOA's business rates valuation service on GOV.UK.
Renting or letting commercial space?
We'll help you understand the real costs.
Speak to our teamCommercial property
