Business rates valuation
We have a duty to maintain accurate records to ensure business rates are being correctly levied on all properties that fall within the local government qualifying criteria.
Liberata will be performing a Business Rates review on behalf of Lewisham Council. An inspector may visit your property and show the inspection authorisation letter and carry a photo identification card. It shouldn't take more than 10 minutes to complete the review with the inspector. Liberata’s contact details are shown on the inspection letter.
Business rates valuation
The Valuation Office Agency (VOA), an agency of His Majesty's Revenues and Customs, is responsible for calculating the rateable value of your property.
The rateable value broadly represents the yearly rent that the property could have been let for on the open market on a particular date. For the revaluation which came into effect on 1 April 2023, this date was set as 1 April 2021.
All rateable values are reassessed at a general revaluation to ensure that business rate bills reflect changes in the property market.
Local councils use the rateable value to calculate your business rates bill and are responsible for billing and collection of business rates, including any relief from payment.
To understand why your property has a certain rateable value, read the VOA’s guidance on how your rates are calculated.
If you are concerned that your business rates may be incorrect, you can check and update your information using the VOA's Check and Challenge your business rates service.
2023 Transitional Relief Scheme
Transitional relief limits how much your bill can change each year as a result of business rates revaluation.
From the 2023/2024 tax year, you’ll get transitional relief if your rates go up by more than a certain amount. This means changes to your bill are phased in gradually until it reaches the full amount set by a revaluation. Your bill will be adjusted automatically if you are eligible.