The government’s Valuation Office Agency (the VOA) has published details about how it will improve the information it discloses on business rates valuations over the next five years and beyond.
This follows a 2023 consultation where it asked ratepayers, agents and others what information they wanted to see disclosed about how it values properties. The hope is that by 2026 ratepayers will be able to see more tailored information about their property, and by 2029, they will be able to see more specific valuation information and evidence.
Carolyn Bartlett, the VOA’s chief strategy and transformation officer, said: “We understand the importance of greater transparency in business rates valuations. The consultation showed there are different views about what property valuation information should be disclosed.”
This is part of a wider set of changes that are coming to business rates in England and Wales from 2026 to 2029, which are being introduced in stages. They will support the VOA to deliver more frequent property revaluations, it is hoped.
The changes include a new duty on ratepayers to provide information about their property to the VOA. The new information duty on ratepayers is expected to be introduced after 1 April 2026 and will be tested with small numbers of customers in phases from that point so the government can make sure the system works for all ratepayers. The duty will then be formally activated and mandated for everyone by 1 April 2029.
However, be aware that businesses do not need to take any action now. The government will tell you about the changes and when you will be affected. The new duty means ratepayers will have to tell the VOA within 60 days when there are changes to their property. These include changes to the occupier, the lease or rent or the property itself.
Once a year ratepayers will also be asked to confirm they have told the VOA of any changes to their property. Bartlett explained: “These changes will help us revalue properties every three years. More frequent revaluations mean fluctuations in the property market are reflected in business rates bills more quickly. This will make the system fairer.
“We will make sure the system has been thoroughly tested by ratepayers before we formally introduce the new requirements.”
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