Valuation help

Valuation

A property may have different valuation periods:

Current

The current valuation period is the active valuation. It shows:

  • the current rateable value set by the Valuation Office Agency (VOA)

  • the latest property details held by the VOA

Previous

The previous valuation shows the rateable value and property details for a period of time in the past. There may be more than one previous valuation. This happens when the VOA makes or accepts changes to property details or the rateable value. You can see previous valuations going back to 1 April 2017.

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Effective date

The effective date is the date that the rateable value was applied to the property.

If property details or rateable value have not changed since the most recent revaluation, the effective date is when the most recent revaluation came into effect.

It is different to the list alteration date, which is the date that the Valuation Office Agency (VOA) updated the rateable value of your property.

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Rateable value

The Valuation Office Agency (VOA) gives a rateable value to each business property in England and Wales. It bases rateable values on an estimate of what it would cost to rent a property for a year, starting on a certain date.

The rateable value is not the amount you pay. Local councils use the rateable value to calculate your business rates bill.

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Description

This is the class of property in which your property falls and may not be the same as that in the rating list. For example, a café has a primary description of a shop.

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Local council reference

This is a reference given to each property by the local council. It is used by the local council and Valuation Office Agency. It makes sure the local council uses the right rateable value when it works out the business rate bill for your property.

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Region

Pubs come under 3 regions depending on where they are in the country: Central London, Outer London and Provincial.

More about how pubs are valued

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Rating list

The VOA calculates the rateable value for each non-domestic property in England and Wales and produces a new rating list every few years.

The list includes the address of the property, a description of the property, its rateable value and the date that value has effect from.

The 2017 rating list came into effect on 1 April 2017. The 2023 rating list came into effect on 1 April 2023.

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List alteration date

This is the date that the Valuation Office Agency (VOA) updated the rateable value of your property. It is different to the effective date, which is when changes to the property or surrounding area started to affect the rateable value.

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Valuation scheme reference

The Valuation Office Agency (VOA) groups similar properties in the same area together into a valuation scheme. This helps them value properties fairly and consistently.

Each scheme has a range of prices for floor areas (such as an area of a shop) and additional items (such as parking spaces). Properties in the scheme are given a price from within that range. This is the property’s ‘base rate’. To set the base rate, the VOA looks at the individual characteristics of each property.

For example, the VOA may assume none of the properties in a valuation scheme have fire protection. If one of the properties in the scheme does have fire protection, the VOA may give the property a higher base rate.

Every valuation scheme has a reference number.

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Measurement method

The measurement methods used most often by the Valuation Office Agency (VOA) are:

  • Net Internal Area (NIA) - used for properties such as offices, shops and restaurants

  • Gross Internal Area (GIA) - used for industrial properties such as factories and warehouses

NIA is the total usable area of each floor within a building, measured to the inside face of the boundary walls. It excludes things like stairwells and columns.

GIA is the total area of a building measured to the internal face of the outside walls, at each floor level. It includes things like stairwells and columns. It excludes outside structures such as fire escapes.

More about how business properties are measured and valued

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Part domestic use

If a property has a mix of domestic and non-domestic uses (such as a shop with the shop owner’s flat above) it will have both a business rates valuation and a Council Tax band.

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Base rate

The base rate is the per square metre price used in the valuation for the main floor area in the property.

The VOA may adjust the base rate to take into account what an individual property is like.

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Transitional relief

Transitional relief phases in a large change to your business rates bill caused by revaluation. It is for properties in England only.

Revaluation is when the Valuation Office Agency (VOA) adjusts the rateable value of business properties to reflect changes in the property market.

The VOA issues transitional relief certificates. Your local council uses the value in the certificate instead of the rateable value to work out your business rates bill. Transitional relief is applied automatically by your council if you’re eligible.

More about transitional relief

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Special category code

This code identifies the type of property, its use and how the rateable value was worked out. It also shows which team in the Valuation Office Agency would deal with the property.

Common property codes include:

  • 151, 235 and 301 – types of warehouses

  • 203 and 204 – types of offices

  • 226 and 227 - pubs

  • 234 – a type of restaurant

  • 249 – a type of shop and premises

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Number of storeys

This is the number of floors in the whole property.

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Lowest floor of your property

This is the lowest floor of your part of the property, not the lowest floor of the whole property.

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Highest floor of your property

This is the highest floor of your part of the property, not the highest floor of the whole property.

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Category/scale

Liquor and food sales are given a category based on the expected trade for the property due to their location or services offered.

More about how pubs are valued

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Fair maintainable turnover

An estimate of the annual trade (excluding VAT) that a property of this type would be expected to achieve if run in a reasonably efficient way.

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Rental %

The percentage of the fair maintainable turnover used for the rateable value. This is worked out from rents paid for similar pubs in the local area.

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Adjustments

Adjustments show where the value of a space is higher or lower than the value applied to other properties in the same valuation scheme.

A valuation may have more than one adjustment.

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Value

This is the value of each item that makes up the overall rateable value of a property.

For areas, it is the area in square metres multiplied by the price per square metre.

For units (such as air conditioning), it is the number of units multiplied by the price per unit.

An adjustment makes the value higher or lower than the value applied to other properties.

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Relativity

Areas in some properties are valued in relation to the main space for the particular use. For example, if the main space has a relativity value of 1.0, other areas might have a relativity of 0.5 if they are half as valuable in comparison.

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Liquor sales

Liquor sales are split into 3 categories:

  • Pubs in city centres, towns and outlying commercial areas

  • Destination pubs (where the location might attract custom from a wider area)

  • Community and rural pubs

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Food sales

Food sales are split into 2 categories:

  • A - Higher profit menus with lower costs such as premium-priced menus with large volumes

  • B - Lower profit menus such as standard value-priced menus, snacks and sandwiches or menus with higher costs such as locally-sourced ingredients requiring skilled cooking or preparation.

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Accommodation

Trade for letting rooms or lodge accommodation. For pubs that have six beds or less for let, accommodation sales should be included in the food sales.

More about how pubs are valued

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Other

This includes extra sources of income such as tobacco sales, room hire, video games and vending machines.

Typically receipts from these items are reflected in the liquor sales, but should be included here if they’re for regular income such as admission charges to a monthly entertainment event.

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If you are having trouble using this service, you can contact us for help.

Email address: ccaservice@voa.gov.uk