Apart from properties that are exempt from business rates, each non-domestic property has a rateable value.
The value is normally set by the valuation officers of the Valuation Office Agency (VOA), It draws up and maintains a full list of all rateable values, available online. The rateable value of your property is shown on the front of your bill. This broadly represents the yearly rent the property could have been let for on the open market on a particular date. For the revaluation that came into effect on 1 April 2010, this date was set as 1 April 2008. The next revaluation comes into effect on 01 April 2017.
The valuation officer may alter the value if the circumstances of the property have changed. The ratepayer (and certain others who have an interest in the property) can also appeal against the value shown in the list if they believe it is wrong. Further information about making appeals can be found on the VOA website or from your local valuation office.
Successful appeals against values shown in the rating list that came into force on 1 April 2010 will normally be backdated to that date, although there are exceptions to this.