The Valuation Office Agency (VOA) is responsible for assessing Rateable Values for business rates. The Rateable Value represents the annual rent a property would achieve if let on the open market at a valuation date set in law. Rents paid for sites for automated teller machines (ATMs) are used to determine the appropriate Rateable Value.
The level of rent paid for ATM sites varies with the volume of transactions. Those with the lowest rents usually have a low volume of transactions and higher rents are paid for the more intensely-used sites. Using this approach to compare one site with another has been discussed and agreed with various industry representatives. The VOA has no plans to change this approach.