To maintain fairness in the rating system, the VOA carries out a revaluation of all rateable values in England and Wales every five years. The next revaluation is due to come into effect on 1 April 2010 and all properties will have their rateable value assessed on the valuation date of 1 April 2008. Why this date?

The revaluation is not designed to raise extra revenue from business rates - it is used to ensure that business rates liabilities are redistributed in line with changes in the property market. More on why the revaluation is carried out.

The new rateable values that will come into effect on 1 April 2010 will all be based on market rental values at 1 April 2008, and will remain effective for five years. How is my property valued?

What will happen, when? Get the key dates for revaluation.

You can download a fact sheet about the revaluation - in English or Welsh/English

How will the revaluation affect my business rates bill?

Your bill may increase, decrease or stay the same as a result of revaluation, depending on how the rental value of your property relates to national averages. For those most affected by the revaluation, a transitional scheme will limit significant changes to rates bills, phasing them in over time. This may only apply in England.

Your local authority will calculate your business rates bill in early 2010, using the new rateable value provided by the VOA. How is my bill calculated? If you are eligible for any discounts or reliefs on your bill your local authority will also apply these but you may need to register for some of them, such as small business rate relief. Get details on the types of relief available at businesslink.

You can check your eligibility with your local authority – get their contact details.

In advance of this, from October 2009, you will be able to use the rates liability indicator at businesslink to get an estimation of your likely bill, using your new value.

Related actions

Get a list of events we are attending to provide you with information about the revaluation

Find out more about the business rates system at businesslink