How Are Public Houses Rated?

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The Valuation Office Agency (VOA) assesses the Rateable Value (RV) of the pub, which is a notional annual rental value as of a specific valuation date (currently based on April 2021 values for the 2023 rating list).

For pubs, the VOA uses:

Fair Maintainable Trade (FMT)

• This is the estimated achievable annual turnover for the pub, assuming it is well-run and properly managed.
• It’s not the actual turnover but what a hypothetical operator could achieve.

Split of Receipts

The VOA divides FMT into key components:

• Drink sales
• Food sales
• Gaming machines
• Other income (e.g. accommodation, functions)