We work out business rates based on the property's 'rateable value'. We are responsible for any changes to your business rates bill and the Valuation Office Agency (VOA) is responsible for the valuation of your property. You will need to contact the VOA for any questions about your rateable value. Rateable values are the amount of rent a property could have been let for on a set valuation date. For 2017 onwards, that date was 1 April 2021. The VO regularly updates the rateable values of all business and other non-domestic properties in England and Wales. This is called a revaluation. Revaluations are carried out to reflect changes in the property market, meaning that business rates bills are based on up-to-date information. We use these values to calculate your business rates bills. You will be sent a bill for 2023 confirming the amount you need to pay. The standard multiplier is 51.2 pence and the small business multiplier is 49.9 pence. You can also use the GOV.UK tool to estimate your business rates. If you think your rateable value is too high You will need to register for a business rates valuation account to tell the VOA you think your rateable value is too high. You must pay your business rates as normal until a decision has been made. If your property details change You can also tell the VOA about changes to your property details like floor area and parking. They might accept your changes and update their current and future valuations. You can visit the VOA website for more information on revaluations.