Business rates revaluation 2023
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. This is called a revaluation.
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 was 1 April 2021.
How we use rateable values
Rateable values are used to calculate business rates bills.
Revaluations are carried out to reflect changes in the property market so that business rates bills are based on more up to date information.
The next revaluation will come into effect on 1 April 2023.
Contacting the Valuation Office Agency
We are 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 enquiries about your rateable value.
Finding your rateable value
To view the future rateable value for your property and get an estimate of what your 2023 to 2024 business rates bill may be, visit the VOA’s Find a business rates valuation service on GOV.UK.
Your property details need changing
To tell the VOA about changes to your property details (eg 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.
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 you think your rateable value is too high. You must continue to pay your business rates as normal until a decision has been made.
How COVID 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 was 1 April 2021. This was during the coronavirus pandemic and the rent information the VOA used reflected this.
Transitional relief limits how much your bill can change each year as a result of business rates revaluation.