Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking to ensure (a) transparency and (b) accountability in property valuations conducted by the Valuation Office Agency.

The Valuation Office Agency has a statutory duty to maintain fair and accurate lists for Council Tax and business rates purposes. Both the lists, the VOA’s rating manuals, and other technical guidance, including its approach to valuing over 200 types of non-domestic property, are publicly available for transparency on GOV.UK. The VOA also publishes blogs explaining how they assess properties and why they might ask for information from taxpayers to perform their functions.

The Government’s business rates reforms will deliver greater transparency on valuations for ratepayers and greater accuracy. By 2026, most ratepayers will be able to access more tailored details about comparable properties and by 2029, more specific valuation information and rental evidence will also be available.

The VOA uses internationally recognised valuation methods. It has a robust three-stage assurance framework which maintains and improves the quality of valuations across all areas through assuring adherence to professional standards, legislative obligations and internal processes. It also has a performance target around valuation quality, which it reports on in its annual report and accounts, which are published on GOV.UK.

The recent decision to move the Valuation Office Agency’s functions into its parent department (HMRC) by 2026 was taken to increase efficiency, business experience and provide greater ministerial oversight and accountability around delivery.