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) in England and Wales. 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.
We 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.
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 all queries about your rateable value.
PermalinkYou are now able to 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 on GOV.UK.
PermalinkTo 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
PermalinkFrom 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.
Sign in or register for a business rates valuation account ready for 1 April 2023.
PermalinkThe 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 pandemic and the rent information the VOA used reflected this.
PermalinkThere are a number of YouTube videos available on the VOA’s channel, which explain what a revaluation is and to guide you through how to navigate their digital services. There are also a number of blogs available on their website that explain the process. The VOA will be sending an email out to all customers registered on their online portal before the end of the year.
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