The Valuation Office Agency's valuation of a UK property — the basis for business rates.
Tax / regulatory · UK
The Valuation Office Agency's valuation of a UK property — the basis for business rates.
Rateable value is set by the VOA and revalued (as of 2026) every three years. Business rates are then levied at approximately 50% of rateable value annually. Rateable value can be appealed; rates can be mitigated via reliefs and structuring. Critically, business rates are statutory and not part of the service charge — model them as a separate line.
Rateable value is part of the tax / regulatory vocabulary that institutional Class A occupiers, landlords, and advisers use across UK markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks the UK definition alongside the global standard so cross-border occupiers can translate quickly.