Business Rates Revaluation 2023

From 1 April 2023, business rates are changing.

The Valuation Office Agency (VOA) regularly updates the rateable values of all business and other non-domestic properties (properties that are not just private homes) in England and Wales. This is called a revaluation.

Sign in or register for a business rates valuation account

Rateable Value (RV)

Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 valuation, that date is 1 April 2021.

The VOA use these rateable values to calculate business rates bills.

Revaluations are carried out to reflect changes in the property market, which means that business rates bills are based on more up-to-date information.

The next revaluation will come into effect on 1 April 2023.

Queries about your rateable value

Your local authority is responsible for anything to do with your business rates bill. The VOA is responsible for the valuation of your property. You will therefore need to contact the VOA for all queries relating to your rateable value.

Finding your rateable value

You can now see the future rateable value for your property and get an estimate of what your 2023/24 business rates bill may be. You can do this through the VOA’s find a business rates valuation service

If your property details have changed

To tell the VOA about changes to your property details (such as floor area sizes and parking), you need a business rates valuation account. The VOA may accept your changes and update the current and future valuations.

Sign in or register for a business rates valuation account

If you think your rateable value is too high

From 1 April 2023, you will need to use a business rates valuation account to tell the VOA if you think your rateable value is too high. You must continue to pay your business rates as normal until a decision has been made. This process does not require a rating agent and can be done by you.

Sign in or register for a business rates valuation account ready for 1 April 2023.

If you are using a rating agent/company to assist with your revaluation, you should check that they have the necessary knowledge and expertise, as well as appropriate indemnity insurance. Take great care and, if necessary, seek further advice before entering into any contract.

How Covid-19 affected future rateable values

The VOA bases most rateable values on an estimate of what it would cost to rent a property for a year, starting on a certain date.

For the 2023 valuation, that date is 1 April 2021. This was during the pandemic and the rent information the VOA used reflected this.