The Rateable Value is an estimate of the open market rental value that a property could achieve, on a specified date. RV is assessed by valuation officers from the Valuation Office Agency (VOA), an agency of Her Majesty’s Revenues & Customs. The RV can vary according to the type, size and location of the property. The UK Government has an online page where you can find the rateable values of all business premises in England and Wales. The rateable value is not the amount you pay in business rates, but the figure that is used to calculate the business rates you have to pay. You can work out how much you will actually be charged by multiplying the rateable value by an amount, set by the government, called a ‘multiplier’. The relevant multiplier can be found in a simple table. Some businesses can deduct Business Rates Relief from their business rates, reducing the total due, as described below. Properties with a rateable value of £12,000 or less are exempt from business rates.